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EUR/USD Daily Video, May 29, 2012

Discussion in 'Sive Morten- Currencies and Gold Video Analysis' started by Sive Morten, May 29, 2012.

  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Good morning,
    Today is not much to comment. Since market has touched WPP and move lower this even could mean the end of retracement. As it was holiday yesterday, probably we will have to monitor market for sometime before taking any action:





    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.
     
    #1 Sive Morten, May 29, 2012
    Lasted edited by : Aug 15, 2015
  2. onenikos

    onenikos Corporal

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    Eurozone in Trouble

    Dear Sive and All
    As us bears wait for a chance to re- enter/increase positions here are some thoughts to share with you.
    As I have mentioned in my previous postings, the "falce" dilemma "Greece in or out the Eurozone" is already superseded by events. These events point to the real problem, which is not the threat of Eurozone disintegration, but rather the way it is handled by the "influenced" decision makers. It is increasingly becoming evident that Greece is a small part of the problem: With the default of Catalunia (3.5% of Eurozone vs 2% of Greece), the 1.9 trillion of the Italian debt and the 1.5 trillion of the Spanish banking debt. But how is the Spanish situation handled diminishes hopes for the future of the Eurozone: What happened is that the bankrupt banks fist transfered their losses to the Spanish state, pushing it also to bunkruptsy. Afterwards they secured tons of loans from the ECB with 1% interest and subsequently lend part of this moneys to the Spanish State (!) with a 6% interest AND in parallel they borough from the Spanish State more moneys that the Spaniard taxpayer is boroughing from EFSF. As if all this is not enough the iron rule so that Spain can be ..."granted" this ingenious solution is the imposing of severe austerity measures that will shrink even more the income of the taxpayer who supply the income to the State that has to repay all these loans that are imposed to the Spanish people on behalf of the Bankers. It doesn't take a PHD to conclude that we in the Eurozone are in trouble. Perhaps the panic button is already pressed by the conference call by the head of the Bank of England of all the Central Bank heads of the Eurozone. Perhaps mr. King by also including Zhou Xiaochuan of the Central Bank of China signals the importance of this meeting. If there are any Bulls out there I would certainly like to hear their argumentation :)
    Best Regards to you Sive and to All the good company here at FPA.
     
  3. toshaukr

    toshaukr Private

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    Hi Sive!

    I have a question about the recent price action on H1. Can it be treated as another butterfly? The ultimate targets of it stand almost at the same levels as of the previous butterfly, therefore 161.8 ext is close daily confluence. Please see the picture attached.

    eurusd h1.

    Thank you!
     
  4. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Hi Onenikos,
    thanks for valuable update. Situation is really blur, even in long-term run. Another thing that makes me worry is that SNB has announced that they are started with prepearing of austerity plan if EU will dissapear. This is silent but very important bell.

    Hi Anton,
    Since butterfly is reversal pattern - Butterfly "Buy" can't appear on Top.
     
  5. toshaukr

    toshaukr Private

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    Ohhh, right, shame on me:( Thanks for quick reply
     
  6. onenikos

    onenikos Corporal

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    Sive, I agree and I too worry with this. As I have been working for a Swiss firm for 14 years (where UBS was a major partner) I can assure you that such a plan has long been prepared. Let's also not forget that SNB is currently hurting badly with their 1.20 floor.
     

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