EUR/USD Daily Video, August 10, 2011

[Sive Morten]

Good morning,
All that we can do now is to watch the movie and how market will behave around 1.4450-1.45 area, since, as I suppose, you already have Long positions...
If not, now still exists the chance to enter Long, although it has a bit larger risk:




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.

 

[fufighter]

Thank you sive, you are the best!

 

[asif faryad]

Thank you



Its great Anaylis put ahead of the Curve

Have a nice day and again thank you for your time that you dedicate to us Sive.

Asif

 

[USDFX]

Thanks where is T/P?

Sive...Thanks for all you do...you certainly know the market..even in chaos...amazing! I have a question....do I keep my long position as an open and wait to see if the neckline breaks or keep my take profit at 1.4475?

 

[Sive Morten]

Sive...Thanks for all you do...you certainly know the market..even in chaos...amazing! I have a question....do I keep my long position as an open and wait to see if the neckline breaks or keep my take profit at 1.4475?

Well, it depends on some things
1. Will be able to reenter, if market will move higher. It demands some skills and non-explosive move up by market;
2. It's better to see, how market will behave there. Also, may be we will be able to find some support higher and tight stop there, so we will not have to close position.

Still, if you do not feel very confidence and have a lack of experience - for you will be better to take profit and rest for 2-3 days. No kidding.

 

[adman]

Sive: Aug 10 EUR daily video -- trade or close below 1.4127?

Sive, when you say the bullish pattern is alive as long as EUR is not below 1.4127, is that a daily close below or a trade below? EUR has traded below (1.4116 as I write Wed Aug 10), but no close below yet. I'm assuming it's a trade below, as it takes out former low.

 

[Sive Morten]

Sive, when you say the bullish pattern is alive as long as EUR is not below 1.4127, is that a daily close below or a trade below? EUR has traded below (1.4116 as I write Wed Aug 10), but no close below yet. I'm assuming it's a trade below, as it takes out former low.

Hi Adman,
As a rule, close is more important, but it does not change what we are precisely speaking about - we want to see clear and true break of the level - market should hold below it and continue move down.
Until this will happen, level is still work, although it could be pierced by the market and even not just once...