The Advisor Weblog

Hourly perspective for majors’

Valeria Bednarik — Fri, 27 Nov 2009 14:46:22 +0000

Stocks are regaining the upside strongly in America, still far from past Wednesday close, yet pushing dollar and yen lower, yet gold remains under $1160, not letting the rally extend too much. Here is the hourly perspective for majors:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-11-27.v02.html

Best pair to trade now:AUD/USD

Valeria Bednarik — Fri, 27 Nov 2009 13:55:52 +0000

Here is my choice for today, enjoy!

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-11-27.html

GBP/USD technical points

Valeria Bednarik — Fri, 27 Nov 2009 13:06:56 +0000

Gbp/Usd has fell also at the beginning of Asia, after rumours U.K. will downgrade the GDP for next year strongly, breaking under past week low of 1.6460 and reached the strong zone just above 1.6250, as we comment yesterday at the Wrap up webinar. Now with stocks in positive territory in Europe, pair approaches to that 1.6460 resistance level, supported by indicators, exhausted to the downside in the 4 hours charts; above that level, 1.6520 and 1.6560 are next resistances today, while from current 1.6400 area, supports lie at 1.6360 area, 1.6310 and mentioned 1.6250 area.

Aud/Usd broke first key support

Valeria Bednarik — Fri, 27 Nov 2009 12:48:27 +0000

As I always told you, Australian dollar being a commodity related currency, usually leads the way.As we comment yesterday at the Live Daily Wrap Up, opening under daily ascendant trend line, was a strong bearish signal, that should target the strong 0.8940 zone, where we have the monthly Fibo, and several lows and bounces since pair overcome the level. As you can see in this chart, pair reached that level, and bounced again to the upside, yet remains close to it, holding around 0.9000. With indicators overextended to the downside, yet still bearish, confirmations under today’s low of 0.8916 should trigger further selling in the pair. Next supports come at 0.8855 area, also quiet strong, and under it 0.8800 level. To the upside, resistances today lie at 0.9035, 0.9080, and 0.9120.

EUR/USD testing strong support zone

Valeria Bednarik — Fri, 27 Nov 2009 12:10:52 +0000

Euro fall halted at a very interesting point: we have not only the daily ascendant trend line coming form early March this year, but also the previous base of the range (range before the break higher) barely above 1.4800/10. Seems a tough area for me really, and won’t be easy to see a break lower. Yet, any confirmation there, supported by more falls in stocks and gold, should send the pair quickly lower, with next supports at 1.4760 area, followed by 1.4710. Resistances today, lie at 1.4930, 1.4970 y 1.5010.

Fighting the 1.4900 area, 4 hours charts remain bearish, and only 200 EMA remains under current price, close to the trend line mentioned above. However, price action will remain as always, highly attached to gold and stocks. Keep an eye there, as last Asian session, news where talking about another “black Friday” and we know, sentiment could move the market big.

Majors’ sentiment for today

Valeria Bednarik — Fri, 27 Nov 2009 11:53:07 +0000

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Bearish

Eur/Gbp: Bullish

Starting the day

Valeria Bednarik — Fri, 27 Nov 2009 11:50:54 +0000

Hi everyone, welcome back! I won’t extend the introduction today, as we have plenty to look at charts. Few minutes before Asia opened, and mostly i believe due to speculation: Yen selling started and accelerate even before Nikkei opening, generating further risk aversion. Gold is down, yet far from the 1137 low, stocks in Europe are negative but regaining ground quickly and so do American futures. Yet dollar and yen remain strong, so let’s see how close we are to key technical points.

No more news for today, but a minor report in Canada.

Have a great trading day!

Hourly majors’ perspective

Valeria Bednarik — Thu, 26 Nov 2009 14:35:08 +0000

Despite we all expect a really thin market ahead, due to American holiday, here is the hourly perspective for majors.

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-11-26.html

Happy Thanksgiving Day for all of you!

Best pair to trade now: GBP/USD

Valeria Bednarik — Thu, 26 Nov 2009 13:17:04 +0000

Here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-11-26.html

Slow session favors greenback

Valeria Bednarik — Thu, 26 Nov 2009 12:17:14 +0000

Slow session is favoring slightly dollar, with commodity currencies leading the way. Australian dollar is approaching to a short term daily ascendant trend line around 0.9150, so under that level, and if gold helps under $ 1180, the AUD could extend the fall to next supports at 0.9110 and then 0.9070, as 4 hours indicators favor further falls; resistances from here lie at 0.9200, 0.9240 and the 0.9275 area.