The Advisor Weblog

Hourly perspective for US session
EUR/USD consolidates below 1.3950
Best pair to trade now: GBP/USD
Starting the day

Hourly perspective for US session

Posted: 09 Mar 2011 06:49 AM PST

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2011/03/09/03/

EUR/USD consolidates below 1.3950

Posted: 09 Mar 2011 05:24 AM PST

The 1.3950 level has turned into a major resistance area now, with 20 SMA in the 4 hours chart, and the 14.6% retracement of last bullish daily run around the level; its also the 76.4% retracement of the weekly slide from 1.4281 to 1.2873, so that’s the level to break to see the cross back bullish; indicators had lost ysterdays bearish tone, and rest flat below their midlines, so unless below 1.3860, no much bearish strength is seen in the cross.

Best pair to trade now: GBP/USD

Posted: 09 Mar 2011 04:53 AM PST

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/09/

Starting the day

Posted: 09 Mar 2011 04:18 AM PST

Hi everyone and welcome back.Dollar sunks across the board, erasing most of yesterdays’ gains as stocks and commodities again run higher. A Portugal bond auction has been pretty successful, but seems the ECB is the one buying bonds and bond yields spread differential is at fresh highs, although market ignores the fact for now. Even Portugal’s Treasury Secretary, has stated that the borrowing cost is not sustainable in the long term.

Oh well, not a good idea anyway to go against the trend: if EUR/USD overcomes now 1.3950, a continuation rally towards 1.4010 seems likely for today, while GBP/USD is already above 1.6220: more gains are also likely in the cross.

Here is the linkk for today’s calendar, will be right back with some majors’ tips:

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

Have a great day!