The Advisor Weblog

EUR/USD Techincal view

Posted: 22 Dec 2010 04:43 AM PST

Here is the EUR/USD technical perspective:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010/12/22/

Starting the day

Posted: 22 Dec 2010 04:37 AM PST

Hi all and welcome back to this blog! Not much activity ahead of Christmas, the holidays’ are among us, and markets are getting thinner day after day. Stocks are slightly higher, barely unchanged, while Euro and Pound managed to correct some of the ground lost yesterday, still limited to the upside: key levels to watch there are 1.3180 in Euro and 1.5560 in Pound. No much upside there unless clearly above those levels.

I was seing that around 1.3080 yesterday’s low, we have the 50% reacement in EUR/USD of the 1.1870/1.4280 rally. Quite a support, so if the pair manages to close the day, or better the week below it, should signal midterm falls in the cross, adding to the fact that historically, EUR/USD tends to fall in January is giving us an advance of what we could expect for the cross.

Anyway, will post EUR/USD chart right after this post.

Here is the link for today's calendar:

http://www.fxstreet.com/fundamental/economic-calendar/

Have a great day!