EUR/USD Daily Video, June 06, 2011

[Sive Morten]

Good morning,
Market has reached our weekly target. Although bullish momentum is strong currently, prices stand and daily overbought, so it's not a time to Buy right now:




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.

 

[Afandi oh]

hello Sive,

seeing that it is not a good time to buy right now, is it a good time to sell or not to enter the market?

what is your forecast on euro/usd by the end of this week?

 

[Sive Morten]

hello Sive,

seeing that it is not a good time to buy right now, is it a good time to sell or not to enter the market?

what is your forecast on euro/usd by the end of this week?

Hi Afandi,
My approach to the market is not based on forecasts, but on acting according to some patterns and signals.
For, instance, I can make some forecast if I see some pattern/signal, but this forecast is based particularly on it.
Since I do not see currently nothing interesting, I can't tell you where market could appear at the end of the week.