Stocks are to the downside, favoring some dollar strength, yet market remains in a tight range, and too quiet. I have been in a live webinar, so take a look at the report following this link, to see majors technical points for today!

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-08-31.v02.html

Here is the majors sentiment for today:

Eur/Usd: Sligthly Bearish

Gbp/Usd: Bearish

Usd/Chf: Slightly Bullish

Usd/Jpy: Neutral

Eur/Gbp: Bullish

Hi everybody and welcome back! As expected, the Democratic Party of Japan made an outrageous election and won more than 300 sits of the lower house, ending with more than 50 years of one single party government. USD/JPY hit 92.50, GBP/JPY 150.00 and EUR/JPY 132.15 as Japanese Yen strengthened from elections results, and rising stocks in Japan. But Asian stocks reversed later, with Nikkei ending in negative territory and the Shanghai Composite down 5.3%; European  majors fell, yet still moving in very tight ranges, in a more than quiet Monday.  Also U.S. futures are down, favoring some dollar gains. Technicals underway, here is today’s calendar:

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

Have a great day!

I will be one of the key speakers in Barcelona, October.  Here is the link if you want to know more about it: http://www.traders-conference.com 

With U.S. stocks in year highs, dollar of course is approaching to yearly lows. Majors seems a bit exhausted to the upside, yet no signs of changing bias yet. Here is the technical report for the four majors. Enjoy!

http://www.fxstreet.com/technical/analysis-reports/currency-majors-technical-perspective/2009-08-28.v02.html

Core PCE Price Index come out at 0.1% against 0.2% previous month; Personal Spending decrease to 0.2% from 0.4%, while Personal Income printed a 0.0%. All pretty bad for the U.S. Would this trigger some risk aversion and save poor greenback? Seems not.. market is not reacting to the news, yet stocks are slightly down. Later universitiy of Michican consumer sentiment is just a revision, so should not affect market that much unless the reading come very different than previous month.

Have you ever noticed, the relationship sometimes GBP and CAD have? no? well pay attention to Canada fundamentals to be release in 30 minutes: if good for Canada, USD/CAD will likely fall and Gbp/Usd will likely rise; not a complete a perfect mirror as we have with Eur and Chf, but well take a look.

Gbp/Usd has turned bullish in the 4 hours charts, pointing for further wins today. Above 1.6380, consider next resistances at 1.6415 and 1.6440 level, where we have 200 EMA; if cleared, pair could approach to 1.6500, but 1.6520 should keep the upside strongly capped; under 1.6310,  supports come at 1.6270 area, 1.6220 and finally, the 1.6160 zone.

Eur/Usd has come to stay: the pair seems quite comfortable consolidating just above strong support zone of 1.4340 holding yesterday’s gains. With 4 hours indicators a bit tired to the upside, pair needs to clear 1.4405 yesterday’s high,also a short term descendant trend line, to regain some upside momentum. Above that, 1.4445, the year high will be next resistance level to consider ahead of 1.4500. Confirmations under 1.4340 could send the pair to the 1.4300 zone, 20 SMA in the 4 hours charts, that should offer some rebound. Clear break, nor really seen, under that MA, could send the pair back to the mids 1.42.

Here is the majors sentiment for today:

Eur/Usd: Bullish

Gbp/Usd: Bullish

Usd/Chf: Bearish

Usd/Jpy: Neutral

Eur/Gbp: Slightly Bearish

Hi everybody and welcome back. Late in the American session, when dollar was about to break to the upside, pushing trough key support/ resistance levels, market suddenly change and pairs run 100 pips at least, against greenback in less that 30 minutes, turning the whole market upside down. First reaction what surprise, then, I remember what summer doldrums are: thin markets low liquidity, stops triggered, positions covered.. and there you have! A surprise should have been don’t see this earlier in the month. Anyway, and leaving a side Swiss Franc that hit a fresh yearly low at 1.0528, the rest of the pair remained in the same ranges we are seeing since early June. Close to the base of such ranges, buyers come quickly to the rescue, and send pairs up. Since early Europe, rallies are extending mounted of rising stocks and dollar continues under strong pressure, and pointing for further rises, lead by commodity currencies. Remember is Friday, the last of the month. Maybe later we will see those profit taking rallies that again could surprise. Anyway, here is the link for today’s calendar:

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

Have a great day!

I will be one of the key speakers in Barcelona, October.  Here is the link if you want to know more about it: http://www.traders-conference.com 

U.S. stocks open mixed, after the strong fall in initial jobless claims and a revision of GDP that matches earlier estimates. Struggling to turn positive, DJIA is 6 points down while S&P is negative 2,5 points. Stocks uncertainty is clearly reflected in majors, that, except for Japanese yen that quickly regain strength, remain trapped in small ranges.