EUR/USD Daily Video, November 22, 2012

Sive Morten

Special Consultant to the FPA
Messages
18,564
Good morning,
Today market still stands at confluence resistance and has formed some potentially bearish patterns:




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.
 
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Dear Sive,

Thank you for your great analysis again.

I see the current situation quite bearish.
As you mentioned in your analysis we have some potential bearish patterns (ABCD, 3drive), but what I was waiting for a while is a potential Bat sell? /see attached/
Also, this could lead us to a failed breakout from the whatever formation (channel up, flag, etc.) which would increase the odds of a down swing, because we shouldn't forget that we're in a down trend on daily.

For me the key is that I also see a quality supply zone (1.2867-1.2876) was just touched during Asia and not much demand till ~1.2770, maybe some @ 1.2820-1.2830 earlier breakout point.

Thnx
eurusd bat.jpg
 
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