EUR/USD Daily Video, February 02, 2011

Sive Morten

Special Consultant to the FPA
Messages
12,649
Hello everybody,
Unfortunately today is very poor subject for discussing - we didn't get either DRPO or B&B, so all that we can talk about today are some levels to watch for:


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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chrisdress

Recruit
Messages
9
weekly outlook

Sive: this was from your weekly outlook this week. this is where you talk about the 1.3730 as key area; have you changed your outlook or is close below 1.3730 an MACDP failure pattern?

Thanks

Chris

"Situation on weekly chart has not changed much. On previous week we’ve discussed couple of moments. First, ABC target at 1.4354, but it still beyond the weekly overbought and I think that it hardly be actual for coming week. The second thing is much more important. This is potential MACDP failure pattern. Currently we have doji week. Formally, market has closed above red line – i.e. above MACDP (see table on the chart in the corner). It means that trend has turned bullish, but this is for 5 pips. If market on coming weak will close below the red line – this will be MACDP failure pattern. In this case we can count on move at least to 1.29 area. Besides, 1.3730 is 5/8 Fib resistance. So, in fact, this is a single moment that important on weekly time frame."
 

Sive Morten

Special Consultant to the FPA
Messages
12,649
Sive: this was from your weekly outlook this week. this is where you talk about the 1.3730 as key area; have you changed your outlook or is close below 1.3730 an MACDP failure pattern?

Thanks

Chris

"Situation on weekly chart has not changed much. On previous week we’ve discussed couple of moments. First, ABC target at 1.4354, but it still beyond the weekly overbought and I think that it hardly be actual for coming week. The second thing is much more important. This is potential MACDP failure pattern. Currently we have doji week. Formally, market has closed above red line – i.e. above MACDP (see table on the chart in the corner). It means that trend has turned bullish, but this is for 5 pips. If market on coming weak will close below the red line – this will be MACDP failure pattern. In this case we can count on move at least to 1.29 area. Besides, 1.3730 is 5/8 Fib resistance. So, in fact, this is a single moment that important on weekly time frame."
Ok, I've got it. It looks like I've made a typo there. My mistake, sorry.
 

chrisdress

Recruit
Messages
9
euro macdp failure (weekly)

Sive:

Sorry to be dense...confirming that close below 1.3730 on Friday confirms macdp failure and move toward 1.29.

Thanx for your help!

Chris
 
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