The Advisor Weblog |
| Best pair to trade now: EUR/USD Posted: 17 Mar 2011 04:48 AM PDT Here is my first choice for today: http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/17/
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| Posted: 17 Mar 2011 04:17 AM PDT Hi everyone and welcome back. Where to start today! Past Asian session saw market turned wild on Sydney opening, with safe havens CHF and JPY adding 200/300 pips in less than an hour against greenback, and hiting record highs against the American currency; risk environment, along with low volume at that time of the day, sent USD/CHF to 0.8860 and USD/JPY to 76.25; commodity currencies also slump while EUR and GBP managed to hold above key supports against dollar, 1.3860 and 1.5970 price zones. Stocks and commodities settle down after the ride, and are quite positive intraday, favoring a dollar slide across the board with EUR/USD reaching 1.4050 fresh yearly high, and GBP/USD hitting 1.6160. If there is a time, when market is not easy to read, this is it; short term rallies are quickly reversed by market sentiment, and wide intraday ranges suggest traders will need a lot of patient and less leverage if they want to catch some pips. Indeed, not my favorite days; anyway, and despite market is paying little attention to fundamental data, here is the link for today’s calendar: http://www.fxstreet.com/fundamental/economic-calendar/ Have a great day!
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