Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/17/

Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/16/

 Here is my first choice for today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/11/02/

The 1.3950 level has turned into a major resistance area now, with 20 SMA in the 4 hours chart,  and the 14.6% retracement of last bullish daily run around the level; its also the 76.4% retracement of the weekly slide from 1.4281 to 1.2873, so that’s the level to break to see the cross back bullish; indicators had lost ysterdays bearish tone, and rest flat below their midlines, so unless below 1.3860, no much bearish strength is seen in the cross.

The EUR/USD remains well bid an above the 76.4% retracement of the weekly slide from 1.4281 to 1.2873, around 1.3950. That is a strong support area, that should now attract buyers; 20 SMA in the 4 hours chart is barely below, with a strong bullish slope, while momentum is back heading north, supporting the bullish case: above 1.4035, resistances today lie at 1.4060 and 1.4090 area; below 1.3990, supports are at 1.3950 zone, and 1.3910 level, not seen right now.

Desptite both crosses look bullish rigth now, the upside seems limited b past day’s high; EUR/USD quotes above 1.3800, yet still 1.3860 seems huge to the upside; if cleared, 1.3910 and 1.3950 come next, yet I don’t see investors that boldy today; supports, for the upcoming hours, are at 1.3790, 1.3750 and 1.3720 price zone.

GBP/USD looks a bit more stronger, hovering around 1.6300; resistances come at 1.6330, 1.6380 and 1.6420 area, while supports now are at 1.6250 and 1.6210 price zone.

In less than 30 minutes, I expect US ADP data to awake a bit more market .

The 1.3860 area seems quite strong and getting stronger day after day, after so many failures attempts to break it; still price remains above 1.3800, consolidating recent gains, and with no aims to lose ground. Here is the technical perspective with charts, for the cross today:

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/03/01/

Preliminary GDP in the US q/q come out below previous quarter and below expectations actually at 2.8%; with current market conditions investors don’t need to many reasons to sell the greenback, and dollar spiked down across the board, with EUR/USD back at 1.3780 and AUD, CHF and JPY running to daily highs.

Pound remains weak, although aiming to regain now the 1.6100 area.

Hi all, here is the technical update for EUR/USD; market will probably remain quiet ahead of US GDP to be release in an hour or so. Guess data will decide today’s trend, although  dollar weakness has still little to change for.

http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2011/02/24/

EUR/USD has completed a pullback to the descendant trend line coming from 1.4281, still struggling around it; 4 hours chart shows a strong bullish momentum right now, yet US data come out pretty positive with unemployment claims back down below 400K and Durable orders up (core reading was highly disappointing); anyway, as long as above 1.3745, bias is bullish; above 1.3810 day high, next target comes at 1.3860, ahead of the 1.3900 area, while supports for today, are at 1.3745, 1.3710 and 1.3660.