http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/http://www.fxstreet.com/technical/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/20/Market is trying to digest Japanese Economy Minister Amari’s words, who hit the wires stating that “yen strength has been largely corrected” at the beginning of the week. But with half local markets on holiday, volume remains shallow across the board, with majors mostly ranging. GBP/USD traded as high as 1.5217, finding resistance in the 50% retracement of the latest bullish run from 1.4830 to 1.5605 and currently retracing from the level, half way towards its daily low of 1.5157. TechnicalMon, 20 May 2013 10:43:57 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/20/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/17/04/Past week break above 100.00 was the trigger market was waiting for another round of USD/JPY gains, and the pair behaved as usual over the past few months, that is advancing to fresh highs, consolidating, finding buyers on dips and breaking higher. As the week comes to an end, the pair trades barely below 103.00 having been so far as high as 103.12, levels not seen since October 2008.  Next strong resistance area and immediate target is 103.50/70 where the pair presents several monthlyFri, 17 May 2013 14:59:15 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/17/04/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/17/03/The strong bearish momentum seen in EUR/USD this week, has put the pair under risk of massive selloff as price is approaching a key support level, the neckline of a H&S figure around 1.2750. Considering the fact that the year low is at 1.2744, and therefore stops below should be large, a break lower should be the kick start of another round of dollar demand against the Euro.  The figure height is of around 950 pips, which means the target comes at 1.1800!! However, don’t get tooFri, 17 May 2013 14:29:28 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/17/03/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/17/GBP/USD has eased all the way back to its comfort zone around 1.5215, 50% retracement of the latest daily bullish run, after surging yesterday towards 1.5310, where the 38.2% retracement of the same rally halted the run. Technically, the 4 hours chart shows current candle below 20 SMA that acts as short term dynamic resistance around 1.5250 today, while indicators turn lower into negative territory, after finally correcting oversold readings. Overall, the bearish tone persists in the pair,Fri, 17 May 2013 10:15:13 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/17/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/16/The EUR/USD trades in a 50 pips range, consolidating recent losses and with no signs of changing bias, despite better than expected economic data around Europe. Dollar sustained advance is being support by little movement and around stocks markets, and gold extending its slide and trading near $1370/oz. As for the 4 hours chart, technical readings maintain the negative tone, with momentum gaining bearish slope and RSI also heading south after barely correcting oversold readings. Sellers so farThu, 16 May 2013 10:26:07 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/16/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/15/GBP/USD is up following improved employment data in the UK earlier today, and current governor King’s comments, as the BOE reviewed its growth forecast to the upside. The pair inched higher with the news reaching 1.5271, having found some intraday support around yesterday’s target of 1.5200/10 50% retracement of the latest daily bullish run. However, the 4 hours chart is far from suggesting more gains: indicators hold flat in negative territory with RSI barely correcting extreme oversoldWed, 15 May 2013 10:20:43 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/15/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/14/Pound seems ready to extend is fall this Tuesday, after limited upward correction movements found selling interest aligned in the 1.5320/30 price zone. Majors early recovery against the greenback was erased on worse than expected ZEW survey numbers, presenting a strong setback both for Germany and the EU.  Technically, the GBP/USD 4 hours chart shows momentum heading back lower in negative territory after correcting extreme oversold readings, while 20 SMA accelerated lower, approaching 200Tue, 14 May 2013 10:58:46 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/14/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/13/The GBP/USD has found support this Monday around 1.5310 which stands for the 38.2% retracement of the 1.4830/1.5605 daily run. However, recoveries had remained shy, capped below 200 EMA currently around 1.5390 and immediate resistance level. In the 4 hours chart, technical readings are barely correcting extreme oversold readings reached Friday, still far from signaling a strong upward corrective movement: above mentioned 200 EMA, the pair will face selling interest around 1.5420 strong staticMon, 13 May 2013 10:34:39 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/13/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/10/03/At this point, you may be wondering if AUD/USD can take out parity for good, and what’s beyond it. Me too. The pair has been struggling around 1.000 this Friday since early US opening, and points for a weekly close below it, as price only goes down today. After 9 months stuck in a 500 pips range, and despite improved fundamental readings, Aussie finally gave up. Gold giving up towards $ 1420/oz is another factor weighing on the commodity currency, but it’s all about the same: dollar strength onFri, 10 May 2013 15:19:41 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/10/03/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/10/While not the neatest figure ever, the daily and the 4 hours chart show a head and shoulders figure developing in the EUR/USD in between Fibonacci levels, with shoulders’ highs around 1.3190 and the head at this month high of 1.3242. The base of the figure stands around 1.2970, 23.6% retracement of the 1.3710/1.2744 fall, from where the pair bounced a couple of times late April.  Dollar strong comeback yesterday US session, has left price dangerously close to the base, with short termFri, 10 May 2013 10:47:42 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/10/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/10/02/The USD/JPY finally broke above 100.00, giving the market a reason to leave the lethargic stated that ruled the forex board for the last few weeks: investors were catch off guard, and dollar took the lead against most rivals. USD/JPY, trades at fresh 4 years high, and finding short term buyers adding to bulls on dips towards 101.40 price zone, April 2009 monthly high.  Intraday technical readings may be in extreme overbought territory, but the daily suggest another bullish leg is justFri, 10 May 2013 14:22:18 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/10/02/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/09/03/Strong improvement in Australian employment figures, were not enough to save the Aussie today, as the bearish trend against the greenback reached a fresh 11-month low. Over past Asian session, Australian data showed that the economy created almost 5 times more jobs than expected, 50K against 11.5 forecasted, while unemployment rate decreased from 5.6% to 5.5%. AUD/USD regained momentary upward tone, rising to a daily high of 1.0253, but bears put a halt on the run and the pair slowly retreatedThu, 09 May 2013 20:27:21 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/09/03/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/09/02/All hell broke loose in the American session, as the USD/JPY finally breached the 100.00 mark. The dollar is strongly up against its rivals, in a series or reason now easy to explain but hard to foresee a couple hours ago: US yields rose over the last few days, establishing earlier today above the 1.80% mark, employment figures weekly basis continue to improve, and finally, jawboning from FED members over the end of QE for this year.  But don’t get confused, it was USD/JPY the trigger ofThu, 09 May 2013 19:27:43 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/09/02/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/09/GBP/USD maintains the positive tone this Thursday, trading above the 1.5540 mark and having been as high as 1.5585 over the European morning, boosted by positive UK manufacturing and industrial production data. Regardless the BOE, the 4 hours chart shows price above 20 SMA while indicators head slightly north in positive territory, keeping the downside limited in the short term. To the upside, the key resistance level continues to be 1.5605, past week high and 50% retracement of the latestThu, 09 May 2013 10:20:01 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/09/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/08/After the downward corrective movement yesterday, GBP/USD slowly grinds higher, aiming to regain the 1.5500 mark at the time being, although holding a technical bearish outlook according to the 4 hours chart. According to it, 20 SMA caps the upside around 1.5530/40 former strong support level, while momentum heads south nearing oversold readings and RSI holds around 40. The level to break to confirm further recoveries is the mentioned 1.5540 area, as steady gains above may see the pairWed, 08 May 2013 10:47:29 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/08/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/07/GBP/USD continues easing this Tuesday with the pair trading below its 20 SMA in the 4 hours chart that has been capping the upside since past American session, and with indicators gaining bearish momentum, entering negative territory.  Failure to regain the upside, and a short term double roof around 1.5605, 50% retracement of its latest daily fall, are now suggesting a possible downward correction in the pair: strong support is located in the 1.5490 area, so once below, the downside isTue, 07 May 2013 10:46:42 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/07/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/06/The EUR/USD maintains the range around the 1.3115 Fibonacci level this Monday, with London off on holidays, and stocks trading quietly around the world. Still, the strong upward pressure seen over the past couple of weeks has now eased, and the pair slowly gains a bearish tone, with the 4 hours chat showing price below 20 SMA and indicators below their midlines. A break below 1.3070/80 immediate support area should signal a downward continuation towards 1.3000/40 price zone. Risk of EurosMon, 06 May 2013 10:26:20 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/06/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/03/The EUR/USD recovered some of the ground lost yesterday after ECB economic policy release, surging back above the 1.3115 Fibonacci level. Consolidating above it, but capped so far by 20 SMA around 1.3140 in the 4 hours chart, the pair will now face the last big event of the week: US NFP data. While the steady gains from 1.2950 past week low, had suggested a bullish trend may be under way, yesterday’s  rejection at the top maintains the pair in its last month range. At this point, a clearFri, 03 May 2013 11:11:20 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/03/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/02/The EUR/USD retraces further from yesterday’s high, holding for now around 1.3150, 100 DMA and strong static support level. 4 hours chart shows indicators easing from overbought readings, turning flat in positive territory, while 20 SMA heads strongly up below current price, suggesting bulls remain in control of the pair.  But beyond technical analysis the pair will have to face now one of the biggest events of the month, the ECB economic policy decision: the Central Bank, is expected toThu, 02 May 2013 11:08:54 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/02/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/01/Thin movements across the board with most markets on holidays’ due to Labor Day around the world, see dollar still under pressure, as both EUR and GBP reached fresh weekly highs against it. Pound found some support on better than expected Manufacturing PMI, that reached 49.8 and supports early month idea that the UK avoided a triple dip recession, for now.  The GBP/USD, trades a few pips below 1.5600, 50% retracement of the daily fall 1.6381/1.4830, a major resistance that if broken,Wed, 01 May 2013 10:58:16 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/05/01/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/30/The yen continues advancing against the dollar, with the USD/JPY pressuring this week low, around 97.35.  Repeated failure around 100.00 weights in the pair, and profits are being taken off the table, while buyers had turned much more discrete and bounces on dips, are being limited. Intraday technical readings turned bearish, with 1 and 4 hours charts showing indicators heading south in negative territory, and price developing below 100 SMA heading towards 96.70, key static support, as perTue, 30 Apr 2013 10:44:27 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/30/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/29/GBP/USD continues outperforming its pairs, quoting at fresh monthly highs around 1.5540. The upward momentum seen past week extended over the last two session, with not much behind by persistent buying interest. Technically overbought according to 4 hours chart’s readings, retracements should now find buyers aligned in the 1.5490 area: as long as above, the upside continues to be favored, with a break above today’s high pointing for a continuation towards 1.5600, 50% retracement of the latestMon, 29 Apr 2013 10:36:47 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/29/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/26/Despite range bound, the EUR/USD maintains a negative bias after yesterday failure to take 1.3100. The pair trades steady around 1.3000, and the lack of BOJ action overnight just supported the mild risk aversion sentiment for this Friday: stocks are down across the world although investors are on hold, as US Advanced GDP will be released in a couple hours. The report is expected to show a strong 3.1% reading, which should feed risk appetite and favor gains in high yielders. However lately, theFri, 26 Apr 2013 10:57:12 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/26/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/25/Pound leads market this European morning, after the release of the first quarter GDP: the kingdom seems to have avoided a triple read recession, with an improved reading of 0.3%. GBP/USD soared pass 1.5420, which stands for the 38.2% retracement of the 1.6381/1.4830 fall, and reached 1.5451 so far today. Intraday charts show price has already completed a pullback to the level that offers now short term support: as long as above, buyers will be in control. A break above mentioned daily highThu, 25 Apr 2013 11:02:50 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/25/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/24/The GBP/USD has been trading back and forth around the 1.5260 level over the last few days, unable to set a clear trend. Right in the mentioned area, the 4 hours chart shows 20 SMA and 200 EMA converging flat, a clear sign of the lack of momentum in the pair. Standing in between the 23.6% and the 38.2% retracements of the 1.6381/1.4830 fall, failure past week around the latest has increased the downward potential in the pair in the midterm. Still, the support around 1.5190 has triggered aWed, 24 Apr 2013 10:56:56 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/24/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/23/The EUR/USD finally left its range today on worse than expected European PMI’s, breaking below 1.3000 and extending to 1.2970, where the 23.6% retracement of its latest daily fall offered short term support. Now, some consolidation in between those levels is to be expected, ahead of a new leg lower on the break of the first. As said yesterday, the H&S figure is not the neatest, but is there and the neckline around 1.3000 should now act as resistance. A break below the daily low will exposeTue, 23 Apr 2013 10:45:44 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/23/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/22/02/Lacking attractive this Monday, the EUR/USD trades near the base of its recent range, barely holding above 1.3040, as jawboning regarding a rate cut in Europe, as early as next month continues. Dollar advances against most rivals, but major’s movements have been limited so far today. The EUR/USD 4 hours chart shows 20 SMA gaining a strong bearish slope, capping the upside now around 1.3070, while indicators stands flat in negative territory. A not so neat H&S figure is under way, with theMon, 22 Apr 2013 10:36:30 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/22/02/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/18/Markets present a better mood today, after yesterday’s panic movements, and majors  trade slightly higher against the dollar, helping GBP/USD regain some ground after an early test of yesterday’s low with the European opening. The pair has tried once to break above 1.5260, and approaches again to the key resistance level, 200 EMA in the 4 hours chart. Technical readings in the mentioned time frame however, maintain a negative bias, with 20 SMA heading lower and offering dynamic resistanceThu, 18 Apr 2013 10:57:00 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/18/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/17/The initial optimism of European opening is being wasted by a series of rumors that included a German downgrade and a fat finger in local share markets that sent DAX heavily down, although the EUR/USD managed to hold its recent gains. However, price retraces from 1.3200 area and quickly approaches 1.3150 static support. The 4 hours chart shows price consolidating well above 20 SMA, that converges with the Fibo support around 1.3110 and momentum above the 100 level still quite close to itsWed, 17 Apr 2013 10:10:29 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/17/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/16/The GBP/USD consolidates yesterday losses, trading in a tight 50 pips range between 1.5270 and 1.5315 area, unable to establish above 1.53, despite risk off trading eased with the European opening. The 4 hours chart maintains a bearish outlook,  with indicators leading lower in negative territory, although 200 EMA stands in the way: the dynamic support is now around 1.5260, and the pair needs to break below it to confirm a downward short term continuation towards 1.5220, 23.6% retracementTue, 16 Apr 2013 10:43:15 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/16/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/15/Market is dominated by risk aversion after disappointing Chinese GDP overnight, that sent stocks and commodities strongly down during Asian hours. European morning sees dollar and yen holding near daily highs against most rivals, particularly commodity currencies that took it worse so far. The EUR/USD still stands above past week low around 1.3040 and strong static support level, with the 4 hours chart showing price below a flat 20 SMA, and indicators presenting a neutral stance, hoveringMon, 15 Apr 2013 10:42:40 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/15/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/12/The EUR/USD changed bias and fell strongly with the European session opening, dragged lower by EUR/JPY bearish tone and failure to break above key resistance level of 1.3115 over the last few days. Longs are taking some profits out of the table also, as stocks edged lower in Asia, while local share markets are also holding the red. Poor EMU’s industrial production figures that posted an annual contraction of 3.1% are also weighing on the common currency. The EUR/USD trades around 1.3040/50,Fri, 12 Apr 2013 09:53:45 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/12/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/11/Positive mood rules market today, with high yielders extending their advance and EUR/USD breaking above 1.3115 Fibonacci level at the time being. The overall tone  of the pair may extend now up to next strong resistance area around 1.3150 where the pair presents several daily highs and lows, and selling orders are rumored to be aligned. However, a break above the level, will expose the 1.3230 area, 50% retracement of the latest daily fall.  On the other hand, momentum indicator in theThu, 11 Apr 2013 10:43:13 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/11/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/10/Markets maintain the range today, with investors still favoring dollar and yen sells across the board. European currencies hold to recent gains, and consolidate near the weekly highs although in limited ranges: GBP/USD has barely moved 30 pips since Asian opening, with a daily low so far at 1.5307. There is little schedule data around until US afternoon FOMC Minutes, so expect market to remain pretty much in range until then. As for stocks, Nikkei advanced to a fresh high, European indexes areWed, 10 Apr 2013 10:54:05 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/10/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/09/The USD/JPY reached 99.65, supported by another enthusiastic run in Nikkei that hit and over 4 years high past Asian session. Recent rapid rise in the index due to BOJ ultra loose policy, has helped yen to accelerate lower, although is time to remember what Abe said a couple months ago, about being comfortable with the pair around 100.00. The USD/JPY has been a few pips below the mark, and may now see a downward corrective movement before attempting to run towards fresh highs above the keyTue, 09 Apr 2013 10:24:02 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/09/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/08/The EUR/USD stands in a quiet range this Monday as market needs to digest the latest developments across the world. Negative US figures past Friday for once triggered a dollar selloff, helping the pair settle above the 23.6% retracement of the 1.3710/1.2744 daily fall. But things are not going well in the EU, with Portugal now gathering attention as the constitutional court  decided to reject cuts of €1B. 10Y bonds are higher today, up to 6.57% as immediate market reaction to the news.Mon, 08 Apr 2013 10:45:09 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/08/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/05/The USD/JPY extended its gains to 97.18 today, pulling back 100 pips early Europe, and trading below its opening price. Despite what technical readings may offer, the pair will trade accordingly to US employment data today. With a report in line with expectations, the most likely scenario is little reaction to data, and a continuation of pre news intraday trend, which means the pair may continue correcting lower, with 95.80 as immediate support. An outstandingly positive report should trigger aFri, 05 Apr 2013 10:29:14 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/05/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/04/The EUR/USD trades around 1.2800, hit by lousy PMI readings all across the EU over the last few days. Earlier today, German data missed also expectations, with Markit services PMI falling from 54.7 past month to 50.9. But that’s just the top of the huge iceberg the EU crisis is. Unemployment stands at record highs, countries continue collapsing and requiring rescues, and the Central Bank has now little room to move.  Anyway, the Central Bank is expected to be dovish, and market has alreadyThu, 04 Apr 2013 10:31:27 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/04/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/03/Not one but three central banks will announce their monetary policy in the next 24 hours, starting next Asian session with the BOJ. And one has to wonder how much more aggressive the central bank could be today, in order to revive yen selloff. Anyway if Koruda succeed in weakening the local currency, the EUR may receive a short term boost from EUR/JPY demand. Even harder is to imagine and aggressive Draghi from ECB: the Central Bank President has to acknowledge the record unemployment, theWed, 03 Apr 2013 11:03:46 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/03/http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/02/Markets are finally back in full mode after a long holidays’ weekend, and news in the European front are far from encouraging. In the UK, consumer credit rose but mortgage approvals for house purchases fell for a second month in a row, and along with discouraging EU data, sent dollar higher across the board.  The GBP/USD eased from 1.5260 area and approached the base of these last few days in 1.5170, immediate support level. The 4 hours chart shows price now below 20 SMA, while indicatorsTue, 02 Apr 2013 10:59:56 GMThttp://www.fxstreet.com/technical/forex-strategy/forex@fxstreet.com (FXstreet.com)http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2013/04/02/