The Advisor Weblog |
- Hourly perspective for US session
- ADP better than expected
- EUR and GBP against USD
- Best pair to trade now: AUD/USD
- Starting the day
| Hourly perspective for US session Posted: 02 Mar 2011 07:01 AM PST Here is the hourly perspective for the US session:
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| Posted: 02 Mar 2011 05:26 AM PST US ADP survey come out better than expected, advancing the economy has added 217K new jobs accordingto their study, this January. Dollar spike higher yet did not last long, and majors are mixed against greenback right now; euro, cad and swissy remain strong while aussie, pound and yen are giving up some ground. Wall Street futures turned down, while commodities keep rising. Mixed picture today, rather not jumping into conclusions fast.
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| Posted: 02 Mar 2011 04:46 AM PST Desptite both crosses look bullish rigth now, the upside seems limited b past day’s high; EUR/USD quotes above 1.3800, yet still 1.3860 seems huge to the upside; if cleared, 1.3910 and 1.3950 come next, yet I don’t see investors that boldy today; supports, for the upcoming hours, are at 1.3790, 1.3750 and 1.3720 price zone. GBP/USD looks a bit more stronger, hovering around 1.6300; resistances come at 1.6330, 1.6380 and 1.6420 area, while supports now are at 1.6250 and 1.6210 price zone. In less than 30 minutes, I expect US ADP data to awake a bit more market
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| Best pair to trade now: AUD/USD Posted: 02 Mar 2011 03:59 AM PST Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/02/02/
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| Posted: 02 Mar 2011 03:56 AM PST Hi everyone and welcome to my blog. Past American session was quite revealing of how investors´ think these days: despite Wall Street slump, dollar was unable to gain ground, as the safe haven condition of the greenback remains in stand by. Commodities run higher with gold at fresh record highs, while Euro and Pound close the day barely negative, still in past day’s range. As key fundamental data of the week approaches, ranges persist in both EUR/USD and GBP/USD, although bullish strength dominates; bullish movements still remain limited to past day’s highs, so unless clear breaks, I won’t expect too much action today; for the upcoming hours, ADP survey seems to be the main fundamental report to take care of, so here is the link for today’s calendar, while I prepare the technical points for both crosses: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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