EUR/USD Daily Video, October 19, 2012

[Sive Morten]

Good morning,

today we will mostly talk about managing of intraday short position, that you may be have, as we've suggested respect of intraday resistance:





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.

 

[Kalgan]

Hi Sive and my fellow traders*

Sive used to do analysis on other currency pairs besides EURUSD and trading has been quite confusing over the last few weeks no?

So here are just a couple of my thoughts:

Move to 1.27 is still possible I agree and if you look on 4hr GBPUSD you will see it put in a nasty down bar yesterday.

Also if you draw a fib retracement on the EURUSD daily chart from the low in July to the last high in Sept you will see that minimum 38% retracmment lies at around 1.2730.

Market has headed in that direction twice now but stopped just short and headed back up....BUT, you know what they say about gaps and untouched targets ;-)

Still as we know, market will do what market will do and we must remain flexible and always use stops.

These are just a couple of my thoughts, also based on the fact that I am short at 1.26 & 1.27 and hoping to get out of these soon...

Best of luck to us all and again, thankyou Sive for your consistent and generous daily and longer term analysis*
K2*