The Advisor Weblog |
| Posted: 01 Mar 2011 04:06 AM PST The 1.3860 area seems quite strong and getting stronger day after day, after so many failures attempts to break it; still price remains above 1.3800, consolidating recent gains, and with no aims to lose ground. Here is the technical perspective with charts, for the cross today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/01/
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| Posted: 01 Mar 2011 03:57 AM PST Hi everyone and welcome back! There is no much of a change in current market conditions, although changes in prices; while EUR/USD remains capped below 1.3860, GBP/USD managed to extend gains to 1.6330 before pulling back slightly. Early news in Europe and the UK had been pretty much encouraging, supporting market tone. Canadian dollar however, remains among the strongest currencies, as the USD/CAD holds around 0.9700, levels not since since early 2008. Let’s see how the cross reacts to BOC monetary policy later today. With stocks higher, and dollar ignored by investors, save havens CHF and JPY are posting quite timid losses against the greenback, still limited; if a bullish correction is meant to take place, I would rather prefer a USD/CHF rise, yet still not clear: watch 0.9320 resistance area there. I still believe market will remain dollar bearish yet limited by some sort of conservative mood ahead of ECB, and Payrolls; anyway! here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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