Posted: 05 Apr 2011 06:26 AM PDT

Here is the hourly perspective for the US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2011/04/05/02/

Best pair to trade now: EUR/USD

Posted: 05 Apr 2011 04:07 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/04/05/

Starting the day

Posted: 05 Apr 2011 03:05 AM PDT

Hi all and welcome back! Leaving aside Pound, majors´prices are mostly unchanged compared to Asian opening. The Euro is slightly lower as quite negative Retail Sales data hit the euro zone, along with more Portugal jitters, sending yields back to the sky. Still, the downside remains pretty much limited: and educated guess would say buyers are not yet ready to give up or profit: we will probably remain on hold until Thursday ECB rate decision.

Pound soared over the last couple of hours, gaining over 130 pips against the greenback, finding some support in better than expected UK services data, yet some profit taking in EUR/GBP may have also weighted in Pound.

Stocks and commodities are on the red side also today, but losing little ground, nothing that could hit currencies behavior for now; aussie however, approaches to 1.0300 but at this point, beware of a stronger downside continuation, leading to some dollar gains across the board: Australian trade balance showed an unexpected deficit past Asian session, while the RBA left rates unchanged at 4.75%

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

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

Have a great day!!