The Advisor Weblog

Posted: 28 Jun 2011 06:53 AM PDT

Here is the Beginners' Corner latest video, regarding moving averages, with some trading tips you may enjoy:

http://www.fxstreet.com/webinars/sessions/session.aspx?id=8162e219-4cac-44b8-af73-40efbd46b11e

We will continue this next Friday, with more technical indicators and tips and tricks beyond books; you can register here:

http://www.fxstreet.com/webinars/sessions/session.aspx?id=1b7bca5f-1d67-40ae-969d-6614b16fdad0

Hope to see you all there!

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Ranges, lack of definition...SUMMER!

Posted: 28 Jun 2011 05:42 AM PDT

Majors had been up and down since the start of the week, with no much of a longer term definition, despite dollar highs. Ther is something of bipolar behaviour lately when it comes to market sentiment, as risk aversion switchs no risk appetite back and foward, sometimes more than a couple times a session. Still, is not that easy as blaming it on summer: investors are running out of safe havens, and my bet goes for gold, and a recovery there, as when it comes to currency, record highs in yen and chf are making those two less attractive than usual, while USD has lost its charm long ago.

Anyway! I still see GBP/USD pretty weak, limited below 1.6020 for now, tops the 1.6060/80 strong static resistance zone. Downside is open for a test of 1.5770 still this week. Short term supports come at 1.5960, 1.5920 and 1.5880.

Regarding Euro, here are the technical details for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/06/28/

Have a great trading day!