FOREX PRO Weekly August 29-September 02, 2011

[Sive Morten]

EUR/USD Daily Update, Tue 30, August 2011

Good morning,
market has accomplished our yesterday's trading plan pips to pips - accelerated up right from 1.4460 to 1.4540 area and turned to retracement.

Now market has excellent short-term bullish bias.
On daily time frame trend is bullish, and market has not reversed down after grabbing of previous highs - it's returning right back. Also we see that all that happens in a row with Butterfly "Sell" 1.27 target at 1.4582 - that is a target for current trading session.

On 4hour chart trend is bullish and that is not a reversal due Butterfly. Our 4-hour butterfly will continue upward move, probably 1.27 resistance will fail because current price action is not a reversal.

On hourly time frame we see excellent example of bullish dynamic pressure. Its minimum target is previous highs around 1.4550, but market will have sufficient momentum to accelerate right to daily 1.4580.

So, today I think market should continue move up.

 

[Sive Morten]

Hi guys, looks like I goofed up.
Today I'm miserably wrong. :err:
Sorry

 

[Marketjoy Trader]

Hi guys, looks like I goofed up.
Today I'm miserably wrong. :err:
Sorry

Anybody who does not understand that this is a game of probability and expectations should have himself to blame and not you. You never claimed to be God. Your level of commitment is awesome. Thank you very much.

 

[BackSpace]

Hi guys, looks like I goofed up.
Today I'm miserably wrong. :err:
Sorry

No problem Sive,

I wish I goofed up as few times as you do.

You can't win them all.

Keep up the good work.

Thanks,
BackSpace

 

[ArminM]

Hi guys, looks like I goofed up.
Today I'm miserably wrong. :err:
Sorry

You don't need to apologise.

Anyone who trades, should use stops and I personally know that you have made me more pips than I have lost.

So if my money management was wrong, it would be my own fault.

Thanks again for your dedication to teaching us how to make some pips.

You can't win them all

 

[tony mau]

Still going up

Hey sive

Thanks again for your great analysis. Do you still think that the eur is going to turn to bullish this week? if you see it on day chart.

Kind regards Tony.

 

[yousuf]

Hey

Hey, sive!

Dont be sorry, we still love you and by far your the most helpful guy.

Im sure they pips we lost today, we can make up for it later ,

personally, do u think that euro got hurt today, because the ECB said they wil "re assess" they stance on inflation, meaning they are probably going to cut their rates?

, and thank you for all the hard work you do put for us

Yousuf.

 

[Rubin Hood]

Sive, I have a question:

I suspect, that US have some actuating levers, may be political, may be financial or both to weak EUR. All that panic with Greece, Ireland, Spain, Italy and now France has come from rating agencies. S&P is US company, and I can’t believe that they can’t use it for own purposes.
​

Is there any evidence of this suspicion?

If so, why isn't it public, and why are European politicians not doing anything about it? US rating agencies and media causing the greatest crisis of the EU and we only have suspicions, and EU politicians not even pointing out the source of the panic?

to weaken EUR​

If you mean "weaken the EUR *currency*", they aren't very successful as it's the dollar that has been weakening since mid-2010. I thought the US was weakening *their* currency deliberately, to lessen their debt burden and help their export. Or did you mean to weaken the European Union as one of their most important competitors in the global scene?

If we will take a look at rate decreasing by S&P to AA+, it will come out with quite other colors – as a preparation of dollar abandoning policy and greatest fraud of all times.​

How would this fraud happen? E.g. destroy the dollar, and thereby get rid of all dollar-related obligations, and blame it all on a ratings agency or some foreign entity? What is your scenario?

How could hundreds (or more) of US politicians orchestrate such a fraud without a single leak or whistleblower?

Thank you Sive. The reason I'm asking is that I want to be able to differentiate your suspicion from conspiracy theories. Thanks!

 

[nicolebobbin]

It's OK Sive, don't bother
All I really need now is to cut loss or just leave my LONG position as they are , I LONG at 1.45. Wanna know which level is possible to exit with small profit or cut loss

 

[asif faryad]

Sive You are a unique mentor!!!

Sive,

This is a game of probabilities with no real outcome its a zero game!

All we can do is make ourselves available dertimine what we are willing to risk and then forget it..


I want to add that you are the MOST HUMBLE TRUTHFULL MENTOR I HAVE COME ACROSS AND I AM REALY BEGINING TO SEE A CONSISTENCY AS THIS IS WHAT ITS ALL ABOUT.

THANK YOU MY FRIEND

ASIF