The Advisor Weblog |
- Hourly update for the US session
- US Retail Sales improve
- Dollar continues gathering momentum
- Best pair to trade now: EUR/USD
- Starting a black Friday
| Hourly update for the US session Posted: 11 Mar 2011 06:46 AM PST Here is the hourly perspective for the US session:
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| Posted: 11 Mar 2011 05:38 AM PST Retail sales come above expectations printing 1.0% while core Retail sales come as expected at 0.7%. Dollar reacted slightly higher, in a limited spike. As just commented, no much changes are expected today in market; however these numbers could help commodities currencies, such as aussie and cad, to erase partial loses.
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| Dollar continues gathering momentum Posted: 11 Mar 2011 05:31 AM PST As time goes by, and despite no fresh lows had been reached in EUR/USD or GBP/USD, both crosses remain under pressure and consolidating recent losses. Stocks and gold are off daily lows, still negative, while oil holds below the $100.00 mark. USD/JPY holds barely above 82.00, limited to the upside by 82.40, while USD/CHF failed to break above 0.9770 and is again challenging the 0.9320/30 support area; if below, 0.9260 is next. Expect save havens dollar, yen and swissy, to remain strong today.
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| Best pair to trade now: EUR/USD Posted: 11 Mar 2011 03:20 AM PST Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/11/02/
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| Posted: 11 Mar 2011 03:00 AM PST Hi all and welcome; sad news with an earthquakehitting Japan and a tsunami alert for all the Pacific coast, has kept stocks and commodities under strong pressure since mid Asian session, movement that only accelerated with European opening. Dollar rally accelerated across the board, with EUR/USD at fresh weekly lows @ 1.3760, while GBP/USD is below 1.60, first time in 3 weeks. EUR/USD has a strong support in the 1.3730/40 area, where several long term Fibonacci levels converge; below this level, the sell off will likely accelerate towards 1.3660 area. GBP/USD is showing several weekly lows in between 1.5960/80; if that level also gives up, more falls are expected today. Expect the risk aversion to keep dominating market, regardless fundamental news. Only CAD employment data could affect temporarily trend; here is the link for the calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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