EUR/USD Daily Video, November 17, 2010

[Sive Morten]

Good morning,
Although market has reached 1.3480-1.35 support that we've discussed, I do not see any Buy signal. Personally, I will be watching for buy oportunities on the next strong support area, around 1.33-1.3350. Currenly, I think that any pullback we should treat as possibility to enter short with target around 1.3330:





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.

 

[Dollar-Reaper]

Problem with the video link

There appears to be a problem with the video link.

 

[RahmanSL]

You really think it will trend downwards to the 1.3330 level? That would be the Sep.20101 level.

I have been following...and trading some positions...on EUR/USD pair all morning and it was bouncing up and down like a yo-yo in tandem with Silver & Gold.

I still have 1 "Buy" opened position from yesterday, and 3 "Buy" opened positions from today....and all are in losses waiting for upward movement to the 1.3552 level.
Think I should get rid of all these positions??

Thanks!

 

[Sive Morten]

You really think it will trend downwards to the 1.3330 level? That would be the Sep.20101 level.

I have been following...and trading some positions...on EUR/USD pair all morning and it was bouncing up and down like a yo-yo in tandem with Silver & Gold.

I still have 1 "Buy" opened position from yesterday, and 3 "Buy" opened positions from today....and all are in losses waiting for upward movement to the 1.3552 level.
Think I should get rid of all these positions??

Thanks!

Well, possibly market will show some bounce from pivot support to one of resistances that I've marked on 4-hour chart, but I expect that it will be just a retracement up and then market can still reach 1.3330 area. But again, this is just my view...

 

[RahmanSL]

Yes, the EUR/USD doesn't have any clear direction at the moment...jaus a moment ago, I though it was really trending downwards but it bounced right back up and start hovering where it has been all day..i.e around the 1.3494 - 1.3450 area.

Hmmm, seems like a dicey pair to trade...think I will stick to Silver as movement is much more clear.

Thanks for your analysis Steve and take care out there!

 

[Maulik]

U r right..its in bearish behaviour.so its good to short it.

Thanks for info

 

[Icarus]

Hello Sive. Am I correct in seeing a Double Repo LAL signal on the 4-hour chart of the EURUSD? I had a short position from 1.3543 but closed it as I am uncertain what will show a failure of this pattern. Would it be a 4-hour close below the 3x3? Or a close below the 61.8 level from the recent low at 1.346 to the recent high at 1.3565? I know you have reviewed this in the past but I was unable to find the discussion in the archives. Could you possibly review the details of a failure of this pattern for us once again in a video? And also what is the possible target of any double repo failure? Thank you for your training on the forex.