The Advisor Weblog

Posted: 29 Jun 2011 03:38 AM PDT

Swiss Franc is no doubts, the strongest currency across the board. Quoting at record highs against the dollar there are no signs of exhaustion or reversal in the long term, yet on contrary, daily indicators point for further slides:

However, and in the short term, pair may show some interesting movements today after the Greece vote (AUD/USD will be the other choice today). Here is the USD/CHF short term outlook for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/06/29/

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Euro faces its destiny today

Posted: 29 Jun 2011 02:59 AM PDT

Hi everyone! So the day has come! Today Greek Parliament will decide either to pass or not latest austerity measures. As far as I know will start at 12 GMT, yet how long will it last, not sure. Market will probably stay on hold waiting for the result. As you may know risk appetite/aversion has ruled the market based upon sovereign debt woes in the euro zone, and headlines regarding the bailout coming from the EU and the IMF: how much, when, how, why, etc, etc.

While market sentiment is in full risk appetite mode since yesterday as stocks and commodities run higher while dollar lower, the vote may trigger outrageous moves, mostly if negative: market has already priced in a "yes" so I won't be expecting too much wildness in the crosses. However, and despite there is the thinnest possibility of coming out negative, no doubts that will be a shock for investors that will likely run back to safe havens: watch yen crosses in that case, could be the most interesting to trade.

Technically, the EUR/USD holds a bullish tone as per steady around 1.4400, and clearly above 200 EMA in the 4 hours chart now acting s dynamic support @ 1.4330. Above 1.4445, I would expect the rally to approach the daily descendant trend line, today at 1.4510, yet that should be it at least in the short term. Lose of mentioned 1.4330 area, could turn the pair short term bearish, towards 1.4250 strong static support and 20 SMA in this 4 hours chart.

Here is the link for today's calendar: