EUR/USD Daily Video, May 18, 2012

[Sive Morten]

Good morning,
market is continuing downward move without any meaningful retracement that could give us the chance to join the party. Still, today market is approaching some valuable targets and forming reversal pattern on hourly chart - who knows, may be we will get our possibility:





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.

 

[onenikos]

Dear Sive and All good morning, and it is a good one for those that diagnosed 1.2863 as the pullback and entered short. Today I want to mention one piece of news that will definatelly influence markets: Both the EU and the IMF are considering changing the way the deficit is calculated in the Eurozone. The methode under consideration is a so called "cyclical adjusted" which if adapted will change the Greek deficit from 7.3 % of GDP to 2.6 - 5.6 % of GDP. (This applies also to all EU countries). As this methode takes into consideration the depression is good when depressed but works the opposite way when out of it!!! In any case this is a piece to watch for.
Have a nice day.