Posted: 19 Jan 2011 02:43 AM PST

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/01/19/02/

Majors’ sentiment for today

Posted: 19 Jan 2011 02:16 AM PST

Majors’ sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Slightly Bullish

Usd/Chf: Bearish

Usd/Jpy: Bearish

Eur/Gbp: Bullish

Eur/Jpy: Neutral

Gbp/Jpy: Bearish

Starting the day

Posted: 19 Jan 2011 01:10 AM PST

Hi everyone and welcome back! Dollar losses extended its slide in Asia, as confidence continues ruling markets: stocks are still adding gains, with European indexes up, and commodities struggling near weekly highs.

Interesting, most of this dollar bearish run has been triggered past Thursday, with ECB talking about rising inflation in the euro zone; early today, bank officials come out saying markets have over-reacted to their change in tone on inflation, making clear a rate hike is not in their schedule.

EUR/USD reached 1.3507 overcoming slightly past December high before retreating on worse than expected Current Account, just published, showing an increasing deficit of 11.2B. Quoting around 1.3450, pair is far from giving any kind of reversal signal, as the bullish momentum remains strong.

GBP/USD regained the 1.6000 level, although is having a hard time to extend gains above the level; unemployment data, due in less than 30 minutes, is the probably trigger the market is waiting for.

Here is the link for today’s calendar, we will be right back after news:

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

Have a great day!