February 18, 2010 (FinancialWire) (Investrend Broadcast Syndicate) (By Javier Perez-Santall) —  Editor’s Note: FinancialWire(tm) offers the following commentary from contributor Javier Perez-Santall, of particular relevance to those with an eye on the U.S. dollar, as well as currency-related funds such as the PowerShares DB US Dollar Index Bullish Fund (NYSE: UUP) and the PowerShares DB US Dollar Index Bearish Fund (NYSE: UDN):

Javier Perez-Santall in his Ash Wednesday broadcast saw referenced Tuesday’s story line, the euro selloff, but didn’t see any new trend developing.

Maybe the markets were digesting the latest news, but Javier didn’t see any trading in the euro as of 8:03am ET. He called 132.66 on the downside. Moving average convergence at 136.80. Between 133.73 and 132.66 on the daily chart.

The correction had petered out, but he saw some action breaking through on his 1-hour chart. “Gotta play the ranges”, he said. Wait for the dips and buy them. Javier said he might be a buyer at 136.70 on the bottom and saw the 4-hour topside at 138.

In sterling, he did not see a divergence: we were looking at a consolidation pattern. He would buy on a dip at 156.90 but sell at 156.80 and go short. Javier saw much of the same with the Japanese yen. Steady at 30.70; not overshooting targets.

The Canadian dollar had dumped down due to the commodities rally. He said he might be a buyer of the Canadian dollar, that it should go to at least 104.87, maybe 105 on the day.

Javier called, “Steady Eddie” on the Swiss franc.

Javier Perez-Santall broadcasts about the movements of the leading currencies several times per day, from a technical perspective, at FinVidea.com. Preferred webcast access to Perez-Santall’s live, interactive webcasts is available via Investrend Syndications (at http://www.investrend.com/finvidea).

Get his interactive, daily video broadcasts via Investrend Syndications (at http://www.investrend.com/finvidea).

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