The Advisor Weblog

Beginners Corner Webinar today!
GBP/USD treathening the trend line
Starting the day

Posted: 13 May 2011 07:56 AM PDT

Today at 17:00 GMT I will be again with you all at the Beginners Corner! We will talk about trends and Fibonacci studies, but also remember, you can take your questions and doubts!

Here is the link to register:

http://www.fxstreet.com/webinars/sessions/session.aspx?id=7e80dc83-98c0-4f8e-9f31-2895f4077faf

and if you missed previous one, don't worry! here is the recording:

http://www.fxstreet.com/webinars/sessions/session.aspx?id=59843881-2f1f-403b-8d28-2324dbe3ff82

Hope to see you all there!

GBP/USD treathening the trend line

Posted: 13 May 2011 05:07 AM PDT

GBP/USD continues treathening the trend line coming form eaarly January in the daily chart:

Here is the technical intraday view:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/05/13/02/

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

Starting the day

Posted: 13 May 2011 02:54 AM PDT

Hi everyone! After reaching key supports level yesterday, majors managed to bounce higher as stocks and commodities are reversing yesterday's losses. Easing risk aversion is favoring some dollar slides across the board, still near key points tested yesterday. Interesting, early European data seems pretty positive, with French and German preliminary GDP well above expectations for the first quarter of the year, but of course those are not the troubled countries. Amazing news should have been those readings in Greece, or Ireland.

Anyway! And despite the positive market sentiment, dollar holds its' strength, particularly against Pound as GBP/USD is back struggling with the daily ascendant trend line coming from early January today around 1.6250. Below 1.6230 yesterday's low, bearish momentum should increase towards 1.6180 at least in the short term.

EUR/USD is back above 1.4250, aiming to regain 1.4300 area, not yet able to do so. Watch for confirmations either side of that range.

Swissy and Yen are regaining the upside after a small come back from stocks and commodities, and despite intraday positive: that means risk aversion is with the foot in the gear: any small negative thingy today could trigger another round of runs to the greenback, be aware.

Here is the link for today's calendar:

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

Have a great trading day!