EUR/USD Daily Video, December 06, 2011

[Sive Morten]

Good morning,
Although we can't exclude deeper AB=CD retracement on daily, currently there are no hints of it yet. Even more, now it is more look like downward continuation has started:



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.

 

[Sylverayda]

Thank You once again.

From my perspective (GMT+1), I noticed for a few days now that the retracement takes place during the first part of the day, however the movement downwards during the second. Can that be the activity of some European "Whales" buying EURO?

 

[Sive Morten]

Hi Silverayda,
It is difficult to say, since mostly solid moves have happened by important news, at least during some recent trading sessions.
May be it could happen due overlapping with US Session, when US traders are stepped in...
This is just an assumption.

 

[Sylverayda]

Of course . Thank you for the answer. As a beginner I notice that there's one thing you can definitely bet on in forex: everything is relative or hypothetical.
By the way, is there a good news service for fast informantion like that?
I tried the CNBC subscribtion but they are too slow . They keep sending me "Braking News!!!" signals when I already know from the price action. Like yesterday: first Angela Merkel, then S&P statement.

Best Regards,

 

[Sive Morten]

Of course . Thank you for the answer. As a beginner I notice that there's one thing you can definitely bet on in forex: everything is relative or hypothetical.
By the way, is there a good news service for fast informantion like that?
I tried the CNBC subscribtion but they are too slow . They keep sending me "Braking News!!!" signals when I already know from the price action. Like yesterday: first Angela Merkel, then S&P statement.

Best Regards,

Well, Probably they exist - try to find out on forum. The point is that Banks and professionals use Bloomberg software, that has really fast news line. But it is expensive - somewhere around 20K$ per year.
I'm just not trade news per se, so television as a news provider (I have Bloomberg TV in office) is suitable for me.