Posted: 14 Jun 2011 08:15 AM PDT

Here is the latest video of the beginners corner, where we discussed continuation figures. Enjoy!

http://www.fxstreet.com/webinars/sessions/session.aspx?id=74111d57-c732-4933-8c98-1e75ffdf53c8

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Posted: 14 Jun 2011 03:32 AM PDT

AUD/USD develops inside a daily symetrical triangle, following a previous bullish trend. That suggest the pair should continue to the upside in the mid/long term, if the figure is of course, broken to the upside. The only thing that is discouraging about it, is that price is quickly approaching to the vertex, so the range may extend and the figure should be discarded. Long term, firm gains above the roof at 1.0710 should lead to a retest of recent daily highs around 1.0770. Clearly above, we can expect the pair to resume the bullish trend.

For the short term, here are the key points for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/06/14/

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Starting the day

Posted: 14 Jun 2011 02:28 AM PDT

Hi everyone! Dollar is marginally lower against major rivals, except Swiss Franc, as local share markets post quite large gains, and despite yesterdays' strong slide in commodities: oil remains trading around $ 97.00 a barrel, while gold struggles to hold the $ 1520/oz level. Commodity currencies, are the overall winners so far today against the greenback, with AUD/USD quoting at 1.0650 (the pair has a descendant daily trend line that needs to break to regain longer term bullish momentum around 1.0700) and USD/CAD quoting ay 0.9740 and pretty bearish as per 4 hours chart, showing 20 SMA above current price gaining bearish tone.

For EUR/USD, and despite intraday positive, technical indicators remain flat below their midlines while price struggles around current 1.4445 area with a bearish 20 SMA, showing no actual strength right now. Having reached an intraday high of 1.4472, clearance of 1.4480 is needed to see the pair extending gains towards 1.4550 area, strong static resistance zone. Supports from current level come at 1.4400, and the 1.4330 price zone.

For GBP/USD, disappointing UK CPI is making the pair retreat from daily highs around 1.6440, and turning mostly lower according to 4 hours chart. If the pair extends the slide below 1.6360, I would expect a bearish day for the pair, with 1.6310 and 1.6250 as next bearish targets.

Here is the link for today's calendar:

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

Have a great trading day!