The Advisor Weblog |
- Hourly perspective for US session
- EUR/USD struggles above the trend line
- GBP/USD chart, and technical points
- Starting the day
| Hourly perspective for US session Posted: 24 Feb 2011 06:37 AM PST Here is the hourly perspective updated for US session:
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| EUR/USD struggles above the trend line Posted: 24 Feb 2011 05:35 AM PST EUR/USD has completed a pullback to the descendant trend line coming from 1.4281, still struggling around it; 4 hours chart shows a strong bullish momentum right now, yet US data come out pretty positive with unemployment claims back down below 400K and Durable orders up (core reading was highly disappointing); anyway, as long as above 1.3745, bias is bullish; above 1.3810 day high, next target comes at 1.3860, ahead of the 1.3900 area, while supports for today, are at 1.3745, 1.3710 and 1.3660.
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| GBP/USD chart, and technical points Posted: 24 Feb 2011 04:08 AM PST Here is GBP/USD chart with the detail of today’s key points: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/02/24/
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| Posted: 24 Feb 2011 04:05 AM PST Hi everyone and welcome back. Risk aversion is back in full force dominating markets, with commodities soaring, oil above $ 100 per barrel, gold approaching to the old time high now @ $1415/oz, and stocks falling across the world. Despite recent strength in high yieldings Euro and Gbp, both currencies are now limited to the upside, with Pound more bearish right now, and approaching 1.6120 support. Aussie and Cad are trapped in the midle also, as stocks should push them down, while commodities up, leaving the crosses in range; still I would expect some strength in both currencies, althougth limited, with CAD stronger against dollar that AUD. Swiss Franc and Japanese yen had reach fresh highs against greenback as expected in past Asian webinar comments; USD/CHF will likely extend the slide stronger than USD/JPY right now. We have some fundamental news, yet consider how these ones will weight on risk sentiment, as that’s the main market driver today; here is the link for the calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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