GBP/USD Daily Video, October 11, 2010

[Sive Morten]

Hello, everybody

GBP has very clear bullish bias in longer term, but very difficult to analyze it in shorter term perspective. It has some contradictive signals, and who knows which one will prevail. Also Cable has some tricky possibility for intraday trading. Although context is not very solid, risk/reward ratio is very nice.




The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[jorsh grant]

mr novice

hello sive
i really do enjoy your post and analysis , superb work and God bless.
i read your post on aud/usd or aud/jpy. i also took the time to cross check the platform its current position, but the figure or number on the platform as exceed the number on your new post on AUD. beside the trend on aud /usd is still bullish, any possible position for retrace on long or short term and possible target point.
i hope someday, i will be in this position to help people like you are sive.
great work.
:embarrassed::cute:

 

[Sive Morten]

hello sive
i really do enjoy your post and analysis , superb work and God bless.
i read your post on aud/usd or aud/jpy. i also took the time to cross check the platform its current position, but the figure or number on the platform as exceed the number on your new post on AUD. beside the trend on aud /usd is still bullish, any possible position for retrace on long or short term and possible target point.
i hope someday, i will be in this position to help people like you are sive.
great work.
:embarrassed::cute:

Hi, Jorsh,
Well, the major expectation currently on Aussie is a parity - 1.0
I didn't make detail analysis, but price action on AUD is very similar to EUR, when it had come to parity for the first time.

 

[Jyotiprakash Pal]

Thank you once again sive sir , i learn 1st drive 2nd drive thing today its great learning from you .
learning trading from a mentor like you , is a dream come true thanks lot masta

 

[William Edward]

Just wanted to take the time to THANK YOU for your GREAT and thorough analysis!!!!!!

 

[cosmos]

Hi Sive, Thank you for all your analyses. I have a question about the EURUSD. Do you think the EURUSD will reach 1.4450? I believe this is .618 expansion from 1.6035 to the low of 1.1876 - is that correct? Also, do you still think it will reach the 1.4042 level before it retraces fully, or does a 2nd retreat from just above the 1.4000 level indicate a weaker market for this pair. In the longer term, do you expect market to reverse its uptrend at 1.4450 and then hit new lows, or to continue rising to make new highs? I know it is a bit early to estimate this but I wondered if you had any thoughts on it.

 

[Sive Morten]

Hi Sive, Thank you for all your analyses. I have a question about the EURUSD. Do you think the EURUSD will reach 1.4450? I believe this is .618 expansion from 1.6035 to the low of 1.1876 - is that correct? Also, do you still think it will reach the 1.4042 level before it retraces fully, or does a 2nd retreat from just above the 1.4000 level indicate a weaker market for this pair. In the longer term, do you expect market to reverse its uptrend at 1.4450 and then hit new lows, or to continue rising to make new highs? I know it is a bit early to estimate this but I wondered if you had any thoughts on it.

Hi Cosmos,
I've prepeared video and daily update in weekly thread, where I've talked about in details
But in general, in longer term, there is some probability that market can reach 1.618 expansion around 1.50 area. In shorter term rather, I expect retracement to the downside, and one of the scenario - market can show second top a bit higher then current one, if it will be DRPO Sell pattern.