The Advisor Weblog

Hourly perspective for US session
GBP/USD upside limited by short term trend line
Best pair to trade now: EUR/USD
Starting the day

Hourly perspective for US session

Posted: 26 Apr 2011 06:42 AM PDT

Here is the hourly perspective for US session:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2011/04/26/02/

GBP/USD upside limited by short term trend line

Posted: 26 Apr 2011 04:16 AM PDT

While Euro continues rising despite the sovereign jitters, Pound remains quite limited to the upside against the greenback, halting since the weekly opening at a daily descendant trend line coming from past Thursday high around 1.6600. 4 hours chart shows indicators still weak below their midlines, 20 SMA above current price, and the trend line now @ 1.6530. Very close, pair has found resistance also aroudn 1.6550/60 area so unless clearly above this last, little upside is seen in the cross; 1.6610 is next.

Main support lies at 1.6430, previous daily highs, and strong static area. Below this last, bearish momentum should accelerate towards 1.6340 area.

This posting includes an audio/video/photo media file: Download Now

Best pair to trade now: EUR/USD

Posted: 26 Apr 2011 03:17 AM PDT

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/04/26/

Starting the day

Posted: 26 Apr 2011 02:39 AM PDT

Hi everyone and welcome to this blog! After the holidays, market is finally back on full shape, with the dollar back lower across the board. As we discuss past Asian session opening webinar, there is no interest in the market to buy the greenback. Commodities are back higher, erasing most of yesterday's losses; Europan stocks markets are quite positive, as well as US futures, with EUR/USD approaching 1.4645 past week high; GBP/USD is barely above 1.6500 limited by a short term descendant trend line, currently around 1.6530.

Swiss Franc continues posting record highs against the dollar, with the pair now around 0.8755, while USD/JPY remains steady just above 81.60.

Investors are far from concerned about sovereign debt woes in the euro zone, as the common currency rises despite Greek/German 10 year govt bond yield spread widens to new euro-era high of 1205 bps; Switzerland trade balance was also disappointing coming under expectations and previous month readings; but hey! who cares? How far can the dollar continue falling? Well, maybe tomorrow, with the FOMC decision, we will have a clue. Besides, the FED has introduced changes, as Bernanke is going to ask some questions. Not live, but choosen from already received ones. Could be pretty interesting, althought I still believe that jawbowning is no longer enough: unless a cut in QE or a rise in rates, the greenback will continue to be sell off.

Here is the link for today´s calendar:

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

Have a great trading day!