Tuesday, March 15, 2011

The Advisor Weblog

The Advisor Weblog

Hourly perspective for US session

Posted: 15 Mar 2011 06:28 AM PDT

AUD and CAD the overall losers

Posted: 15 Mar 2011 05:34 AM PDT

While AUD already lost over 270 pips today, there is nothing suggesting the rally may stop and reverse at least in corrective move; pair has past November monthly low around 0.9800, so that’s next support area to overcome; lose of that area, could seen the pair extending towards 0.9750 area next strong support in the daily chart.

USD/CAD soared to 0.9950 so far, with some resistance around 0.9985/1.0000; still the bullish momentum is quite strong so expect short term corrections to remain limited; above parity, 1.0060 is next, while now 0.9920 and 0.9870 are immediate supports.

GBP/USD technical perspective

Posted: 15 Mar 2011 05:06 AM PDT

Watching the 4 hours chart in GBP/USD, I have just realized that the cross completed a pullback to the daily ascendant trend line with yesterday’s high near 1.6200; recent slide has left indicators in the hourly chart near extreme oversold conditions, so the cross is now consolidating near recent lows, with the4 hours chart still quite bearish: 20 SMA has crossed 200 EMA, and as long as below 1.6060, bias is bearish for the pair; past week low, around 1.5970, is now key level to watch, as an acceleration below this last should trigger further falls with next supports at 1.5920 and 1.5860 price zone. Above 1.6060, pair will find resistance at the 1.6100/30 price zone.

 

Best pair to trade now: EUR/USD

Posted: 15 Mar 2011 03:19 AM PDT

Markets remember

Posted: 15 Mar 2011 03:06 AM PDT

Hi everyone and welcome back; seems markets all of a sudden had remembered USD safe haven status, and with stocks and commodities being trashed on fears further nuclear leaks are to be expected in Japan, the greenback is soaring across the board; while EUR/USD approaches to 1.3860 static support area, GBP/USD, that started the day barely below 1.6200, is about to lose past week low @1.5970, having lost already more than 200 pips.  Commodity currencies, AUD and CAD are at fresh weekly lows against dollar, while CHF and JPY hold their strength as they are also safe havens. The day is young meaning trend could extend easily despite the wide ranges already seen. We have also FOMC decision later today, and market attention will focus in the “extremely low, for an extended period” comment; if Bernanke removes those words, greenback could gather even more strength today; will start taking a technical look across the board, here is the link for today’s calendar:

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

Have a great day!
Posted by at 5:38 PM

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