Posted: 16 Mar 2011 06:40 AM PDT

Here is the hourly perspective updated for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2011/03/16/02/

Best pair to trade now: EUR/USD

Posted: 16 Mar 2011 04:33 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/16/

Risk still rules

Posted: 16 Mar 2011 04:32 AM PDT

Hi everyone and welcome back to this blog. Risk of course, keeps ruling markets despite pressured eased a bit over the Asian session, after the BOJ poured another 3.5 trillion yen into the economy, adding to the 23 pumped in the aftermath of the earthquake, giving Nikkei a breath after the index lost around 16% in the first 2 days of the week.

Early morning, news come out mixed, as yet another downgrade in the euro zone, this time for Portugal, as Moody credit rating agency cut from A1 to A3 on long-term government bonds; U.K. unemployment claims fell in February by the most in eight months, adding to recent signs that the economy may be recovering.

Stocks are slightly positive as well as commodities, but yen and swissy hold recent strength with both currencies near all time highs against greenback, suggesting risk is still present, and investors won’t be looking for riskier assets.

Anyway, let’s take a look at the technicals; here is the link for today's calendar:

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

Have a great day!