EUR/USD Daily Video, April 21, 2011

Sive Morten

Special Consultant to the FPA
Good morning,
market could continue move up further, but don't fall in possible traps - watch for some important moments in price behavior:

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.
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EURCHF analysis?

Dear Sive,

I watch your analyses here and I am impressed by their accuracy.

But right now I have a rather unspecific request. I live in Romania and I am refinancing a mortgage loan in CHF, to one in EUR. The exact amount in EUR I need depends on the EURCHF rate. It's quite a large amount of money for me (some 100k EUR) and I'd try to optimize this exchange. Would you have the time to examine the EURCHF and give me some hints, as to when I could get a higher EURCHF rate, starting from now to the next few weeks?

Best regards,

Sive Morten

Special Consultant to the FPA
Hi Andrei,
well, I do not track and trade this pair. I've taken a look at it, and only that I see, is that it could move a bit lower.
This is a monthly chart, market has not hit 1.618 target and sell-off is strong, and potentially it could be 3-Drive "Buy".

Current price action on weekly time frame stands in tight range, so market does not move higher.

Well, my feeling, that market has more chances to move a bit lower and hit monthly 1.618 + acomplish 3-Drive pattern.

But do not pay much attention to my view, I could be wrong. And do not use it as rule to follow. Ask somebody else... May be it makes sense to add this question in weekly thread - other forumers express their view.