EUR/USD Daily Video, March 02, 2012

[Sive Morten]

Good morning,
market has reached an 1.3290 Agreement level, that we've discussed yesterday. Since this level is solid, market could somehow respect it. For entry we need some intraday bullish pattern around this area, but it looks not so simple:





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.

 

[adman]

Sive, you put up a great chart showing a long-term reverse head & shoulders pattern for the USD vsd. the Euro. I think it was in late October 2011. I believe that's how you arrived at your 1.16 target for the Euro. I think the Euro was at about 1.42 at the time, and it immediately started falling, which shows your prescience (you were one of the few to see it coming). Do you have a link to where one can access that chart?

 

[Sive Morten]

Sive, you put up a great chart showing a long-term reverse head & shoulders pattern for the USD vsd. the Euro. I think it was in late October 2011. I believe that's how you arrived at your 1.16 target for the Euro. I think the Euro was at about 1.42 at the time, and it immediately started falling, which shows your prescience (you were one of the few to see it coming). Do you have a link to where one can access that chart?

Hi Adman,
I'm not sure, but may be you're talking about this one:

https://www.forexpeacearmy.com/forex-forum/sives-analysis-archive/17534-forex-pro-weekly-october-31-november-04-2011-a.html

 

[adman]

Sive, you're right, it's the Oct 31-Nov 4/11 chart in your archives. In your Conclusion, you brought out a "second smile" potential pattern for USD. It shows that USD went from 74.25 to 87.75 in just 4 months (Dec/09 to Apr/10). You talked about the possibility of the right side of the double smile happening in 1-2 years, maybe faster. I don't think a similar move will happen as fast as it did in Dec/09-Apr/10, but I think it will happen. One reason is that on Thurs (Mar 1/12) central banks announced that they are going to start investing funds directly into the US stock market. To do that they have to buy dollars. Ergo, the USD will rise and the Euro will fall to the target of 1.18-1.16.

 

[FreddyFX]

Hee Sive.

GREAT job as always !!!!
Cannot find the printed version, maybe it gets posted later.

Saludos from Mexico, you should come visit some time.