EUR/USD Daily Video, October 23, 2012

[Sive Morten]

Good morning,
It looks like we have some bearish patterns, that suggest at minimum retest of 1.30 area, or even downward continuation. So watch them closely:





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.

 

[allan vincent]

EURUSD and EURNZD thoughts
EURUSD:
Monthly: not necessarily now down trending. Higher low.
Weekly: down trend. Pulled back to 78.6% & 50% pivot, day R3, week R1, Month R1 and support/resistance area three hits to this area. MACD/RSI divergent
Daily: end of uptrend. “Double top” indicator. Immediate area of support/resiatance [1.2990/1.3]. Lower high, watch for lower low.
4Hr: no good trend. At the weekly pivot. Below day pivot. Look/feel = down-look.
1hr: no great trend.

Most likely trade: breakdown through week pivot 1.3016 to day S2 1.2994 not a 1:1 trade, not recommended - though may carry on


EURNZD:
Monthly: down trending – strongly
Weekly: down trending – pulled back to 50%, possibly on the way to a pullback trade, [2 pivot(38%&61.8%) monthly R3, weeklyR2 plus a level of support/resistance 1.6206] MACD/RSI convergent
Daily: uptrend. MACD initial divergent[19 january 2012- 16july 2012] now convergent
4Hr: uptrend, MACD, RSI not convergent implying less “force” upward, possible ending of upward trend. Currently on day pivot region.
1hr: no trend

most likely trade: pullback weekly above
i am trying to learn but i am ssllloooowwwwww. Sive knows best. am watching and listening Sir.

 

[Davidovic]

Hi Sive, again a fantastic analysis... It's a pleasure to learn read the market like you do... A BIG THANKX

 

[FreddyFX]

Sive, if I did not know better, I would almost say the market is doing what YOU explain on your charts what it should do, lol.

 

[pacmanpip]

ABCD Spot on........Viva Sive Morten.

 

[leeds]

Daily I learned from you.. You are a genius.