EUR/USD Daily Video, January 19, 2011

[Sive Morten]

Good morning,
Let's shift to EUR again. In general, price action was bullish, and possibly market can go up a bit more, to 1.3540-1.3580 area. But further upmove seems blurring currently:




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.

 

[tantric]

Thanks Sive.Greetings.

 

[ronyboy]

Hi Sive

On my MT4 screen chart looks a bit different from yours, why so?
Also on EUR/USD 4H screen RSI (10) shows divergence. What do you think?

Rony

 

[konstantz]

Hi Sive,

Thank you for everything. I have one thing that is not clear to me. When you look for a trust on an uptrend for ex. you count only the bull bars or you consider also the bear bars that not penetrate 3X3.

 

[Sive Morten]

Hi Sive,

Thank you for everything. I have one thing that is not clear to me. When you look for a trust on an uptrend for ex. you count only the bull bars or you consider also the bear bars that not penetrate 3X3.

Hi, Konstanz,
There is no definite clarification for that. Personally I count bull bars and, say, flat bars if they are few between trhust bars. But the major thing is a shape of thrust. If this is just two bars up, then 10 small flat bars and then 2 bars up again, I do not treat it like a thrust move.
During the thrust we should see real pressure, pushing the market in one direction. In this case, you even can count single bear bars. Because very probable that they are just retracements on lower time frames.

 

[Adam Wyn-Roberts]

Euro still moving up?

Hi Sive,

I read this on forexlive.com:

The US dollar index penetrated support yesterday at 78.80 and today it has obliterated that support.
Since breaking out of the range bordered by 78.80 on the bottom and 81.30/40 on top, look for a slide of somewhat over 2.5 cents to the 76.30 area in the weeks ahead.
Since EUR/USD makes up the bulk of the index, a further rally in the main pairing is to be expected in coming days.

Do you agree with this?
Can we go long to say, 1.37 barrier?

With Respect,

AdamFx42

 

[Sive Morten]

Hi Sive,

I read this on forexlive.com:



Do you agree with this?
Can we go long to say, 1.37 barrier?

With Respect,

AdamFx42

Hi Adam,
Well, I can't exclude that possibility. In current video I just want to tell, that, yes, market is bullish, but it overbought, and it will have to struggle for passing through1.3580 area.
So, if you're bullish - it's better to wait some pullback.

The second thing - USD/CHF has bullish bias. Although EUR and CHF are not 100% correlated currencies, they have a lot of common in moving.
The scenario that you are talking about assumes that bullish USD/CHF bias should fail in nearest future. May be it will happen, but currently I do not see any signs of that.

 

[FreddyFX]

pls contact me, Sive.

Sive.

I like to talk to you about a little problem in every spoken presentation you make.
Can you contact me?
freddyfx@gmail.com

Freddy