Here are the levels to watch today. No use for much technical analysis today, payrolls are too noisy for that!

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-11-06.html

Here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2009-11-06.html

Enjoy!

Canada has just published their employment data; pretty bad in general, with 43.2K job lost instead of 10.K wins expected, while unemployment rate rose to 8.6% from  8.4%. Not a law, but U.S. data tends to come in line with this one. If data is so bad in America, could dollar rose today??

I will be covering Live! (YES! AGAIN!) data at Fxstreet.com home page. See you all there!

Here is majors’s sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Bullish

Usd/Chf: Bearish

Usd/Jpy: Slightly Bullish

Eur/Gbp: Neutral

Hi everybody, and welcome back! Dollar remains weak across the board, after yesterday’s Central Banks decisions, more due to a healthy risk appetite than data, as stocks and gold keep rising as there was no roof for them. Anyway, and ahead of the U.S. NFP report, greenback continues losing ground.

Regarding Nonfarm payrolls, we know, that usually a good dollar report trigger a stocks rally, sending greenback down, while a bad ready has the oppositeeffect. USUALLY. L believe we are going to follow that path today, but remember one day, a good dollar reading will mean dollar strength. If that day is today, is something I can’t assure.  Just pay attention to market and take a breath before taking a trading decision. Good luck all!

Here is the link for today’s calendar:

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

Have a great day!

Hi again! after the longgggg live coverage, here is the hourly perspective for majors. Enjoy!

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-11-05.html

I will be covering Live! both Central Banks decisions at fxstreet.com home page. See you there!

If we place a Fibo in the last daily downleg, from 1.5062 to the 1.4625 lows, yesterday’s spike reached the 61.8% retracement. Now pair is hovering around the 50%, with indicators pointing to the downside, yet price moving above every MA. A clear acceleration under 1.4800/10, could send the pair to the 1.4770 area, followed by 1.4740. To the upside, I would like to see a 4 hours candle opening above 1.4860 to confirm more bullish bias, with 1.4890, 1.4925 and the 1.4970 area as next resistances to consider.

Here is majors sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Bullish

Usd/Chf: Bearish

Usd/Jpy: Bearish

Eur/Gbp: Slightly Bullsih

Hi everybody and welcome! Sorry for the lack of post yesterday it was a technical issue with the blog editor. I couldn´t make it work! I have been doing however the usual reports. Anyway, here we are back with dollar down against major rivals, after the FED decide to hold rates and the “extremely low, for an extended period” stance. Eur/Usd reached 1.4900, Gbp/Usd 1.6600, from where both retreat a bit, waiting for next ECB and BOE decisions. Stocks rose on the positive outlook of the economy, while gold keeps trying to reach the 1100 level.

Early data show some improvements in the U.K. with Industrial Production above expectations, while Retail Sales in the eurozone fell again, this time -0.7%. However majors are almost with no reaction: market players don’t dare to risk positions a couple of hours before statments, so seems we  will have to wait to see some definitions for today. Here is the link for today’s calendar:

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

Have a great day!