Hi everyone, how are you? You know, I’m on vacations, yet this morning an email touch my heart; back on the ITC I had the pleasure of meeting Markus Heitkoetter, from Rockwell trading. Markus is not just a 20 years experienced trader, but also an amazing human being and seems his son, Julius,is just like daddy.

 Julius is currently participating in a “Math-A-Thon” for the St. Jude’s Children Hospital. In a nutshell, he received a book with math problems that he should solve and then find sponsors who donate a few cents for every right answer. Just a small detail: Julius is 6 years old…

Kiddo, I’m in! You can watch his video and see what he needs, here:

http://www.rockwelltrading.com/personal-request

I’m a proud mom of 2 girls of 5 and 7 years old, and wish all our kids learn to be like Julius; Markus, BE PROUD!

2009 has been quite a year for me. A lot of new stuff come to my life; good things bad things, no matter what I have enjoyed all, and learned from every single experience. I’m happy, but tired, and since is summer here (February is same as August in Europe) I will be heading two the beach for a couple of weeks, with my family (and the computer yes I can’t help it!) I will be around doing some live coverages, this week, but I do really need this days for me and my family. So, hopefully, I will be back and fresh Feruary 15th to keep on as usual. See you all and tks for being there always!

Val Bednarik

In a few minutes, I will start the Live coverage of the U.S. GDP release, as usual at Fxstreet.com home page

See you there!

Here is the hourly perspective for majors, ahead of U.S. GDP data:

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2010-01-29.v02.html

Here is my choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-01-29.v02.html

It’s been a while since I don’t post a gold chart, and circumstances are interesting enough to do it: this is a daily chart. As you can see, the metal corrected almost the 61.8% of the last daily bearish rally, from historical high, to December lows, around 1074. Yesterday that zone halted the downside, but we are very close to the level. I’ve read rumors around saying Central Banks like China or India are interested to buy around 1050/80 to increase their reserves. Keep in mind just rumors! Anyway, I will expect some fast fall if we get under that area, with next strong supports at 1062, 1054 and 1031. To the upside, 1100 is the level to watch, ahead of 1115.

GBP/USD has spent all the week, trapped in between past Monday’s high of 1.6282 and low of 1.6077. 200 pips range, with no trend defined. Until we break any of those extremes, I have no bias for the pair. As more time passes, more it makes me stay away from it. Moving averages in this 4 hours charts turned flat, yet indicators look slightly bullish at this point. Above 1.6165, pair could approach to the 1.6200 area ahead of roof of the range. Under 1.6100, next support comes at the 1.6160 area.

I know you want to read about forex, and not about this stuff, but really I’m so angry this morning, I need to share this with you! and maybe is one of the reasons I can’t understand CFTC rules, as I still believe north of Ecuador things are not like here.

You know, Argentina produces meat and seeds. We are a primary country producer, and around the world is well know the quality of our meat. Well, this month, cow meat prices are suffering and increase of 20%, just this month; the basic aliment here, as its’ supposed to be cheap. Our dear president has spent two hours on T.V., yesterday, recommending people to eat pork, because is aphrodisiac. No, I’m not kidding! Her own words. Today, she is making an ode to chicken.

She is not talking about her last decision of kicking away our Central Bank president because he is not willing to let her use the country reserves; not talking about the resignation of her personal secretary, that is under investigation after his personal  assets rose 756% ( YES! SEVEN HUNDRED FIFTY SIX PERCENT) in 6 years. Nop! chicken and pork!

HA! 70% of people here, lives under the line of poverty. Unemployment is uncountable, because of course, our official stats centers is subdued to government and gave us beautiful drawings of inflation, unemployment, economy, etc, etc, etc.

The list continues. I have my parents, and brothers here, my kids their friends that’s why I don’t pack and finally leave this life.  But day after day, I can only think of crossing the line and jump to the more civilised side of the world.

Here is majors’ sentiment for today:

Eur/Usd: Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Neutral

Eur/Gbp: Bearish

Eur/Jpy: Bearish

Gbp/Jpy: Slightly Bullish

Hi everyone and welcome back! Friday, last day of the month. Dollar extended it’s rally against Euro and Aud, past Asian session, but in general was a quiet session. Bank of Japan Governor Masaaki Shirakawa said the central bank stands ready to take “swift” action to stabilize markets when necessary, yet their policy statement did not include any cash injection or bond purchase this month, so no big surprises there. Early Europe data come out positive for the U.K. with house prices jumping the most in 5 months, 1.2%; euro zone estimated CPI (inflation) came under expectations at 1.0%, while unemployment remained unchanged at 10.0%.

Gold continues down, quoting around $ 1081/oz, supporting dollar strength across the board. Market seems to be waiting for U.S. GDP later today, so here is the link for today’s calendar, while i take a look at my charts:

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

Have a great day!