The Advisor Weblog

USD/CHF may head to new historical lows
Beginners Corner: Last recorded webinar
Starting the day

Posted: 18 May 2011 04:50 AM PDT

The movement towards 0.8900 was just a shy correction in the long term bearish trend and a break below 0.8770 could be the kickstart for a selloff towards fresh lows:

Here is the intraday perspective for the cross:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/05/18/

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Beginners Corner: Last recorded webinar

Posted: 18 May 2011 04:43 AM PDT

The beginners corner continues growing!

Here is the link to past Friday webinar, where we discussed trend, Fibonacci studies and several interesting tips on trading. Enjoy!

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

Starting the day

Posted: 18 May 2011 03:34 AM PDT

Hi everyone! Commodities are up, stocks are down, and market continues looking for direction: major crosses are barely unchanged from Asian opening levels, with dollar mixed across the board and Pound posting the biggest loses of the day so far, after BOE's Minutes show no changes in the 6-3 vote to keep interest rate on hold, while UK unemployment claims rose by the most since January 2010. Back down and below 1.6200 after being rejected by the daily ascendant trend line, GBP/USD approaches to past week low around 1.6145: with the daily chart pretty bearish, lose of that level should signal further slides with 1.5970 as probable target.

Euro is intraday positive, struggling around the 1.4250 area. Next strong resistance comes at 1.4330, yet seems quite far away with 4 hours indicators lacking bullish momentum. Anyway, and with FOMC Minutes ahead, won't be expecting any wild break before it.

Here is the link for today's calendar:

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

Have a great trading day!