Friday, May 20, 2011

The Advisor Weblog

The Advisor Weblog

Beginners' Corner upcoming webinar

Posted: 20 May 2011 08:33 AM PDT

At 17:00 GMT, we are going to have another Beginner's Corner session, where I will discuss the different tools technical analysis offers to determinate support and resistance levels. Also remember, we have a late session of questions, where I will try help you with any doubt about forex market.

 

Here is the link for the session:

 

http://www.fxstreet.com/webinars/sessions/session.aspx?id=45bf8686-4535-4f42-ae73-1bda8060eb0a

 

See you there!

 

 

 

EUR/USD: another selloff on Greece jitters

Posted: 20 May 2011 03:55 AM PDT

EUR/USD once again failled to hold above 1.4300, yet still the downside remains limited in the short term, by 1.4250, and in the longer, by past week low @ 1.4040.

 

 

Here are the intraday levels to take care of:

 

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/05/20/

 


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

Starting the day

Posted: 20 May 2011 02:31 AM PDT

Hi everyone! Risk aversion continues easing slowly, dragging dollar down across the board, although so far rises in high yield currencies had been pretty much limited, with Euro and Pound unable to gain bullish momentum. Commodity currencies have a better tone, with AUD/USD nearing 1.0700 and USD/CAD around 0.9640 area, and signaling a continuation, while Swiss Franc and Yen, despite bullish against dollar, had hardly managed to move from past Asian opening levels.

 
EUR/USD quotes just above 1.4300, with 1.4345, daily high as immediate resistance ahead of 1.4380/1.4410 area. Strong support comes at 1.4250, so only below that last a retest of 1.4200 and some bearish pressure seems likely.


GBP/USD despite gaining more ground continues trading below 1.6300 recent highs and strong static area. Unless clear consolidation above, the upside should remain limited. Next resistances come at 1.6345 and 1.6380 area, not seen for today. Supports, are located at 1.6230 1.6190 area, and 1.6150.


Strong fundamental data will be published in Canada, where CPI readings could trigger a selloff in USD/CAD if much higher than expected, as seen in previous month. Here is the link for today's calendar:


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


Have a great trading day!
Posted by at 5:06 PM

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