Euro Forex Pro Weekly 16-20 August, 2010

[JasonEdinburgh]

Thanks Sive, Excellent analysis yet again. I find you are one of the only truely professional voices amongst a sea of amateurs.. I also really like the new daily youtube analysis. Its great to hear how the professionals look at the forex market.

 

[auna]

Thanks Mr Morten but i bet the 1.27 coming on Friday caught you a little off guard right just like us. No matter.Great analysis but i hope we go up before going down again..why.I hate rollercoaster rides and weekly 500 to 600 pip moves in one direction. Need some credible predictibility here from the market like before with some sure supports like before for this pair...none which they are giving right now. Economic indicators seem to be bringing adverse reactions as well.
Rollercoaster ride people..Who knows what monday would bring. 3 weeks ago we were in the 123 last week we were in the 133 and this week we start with 1.27 something. The euro is really unorthodox thesedays and i can see that risks have quadrupeled when dealing with it. Besides the Eur Jpy who can fluctuate 300 to 500 pips in 1 or two days, the EUr USD is beginging to become just like that...600 pips move in nearly 2-3 days. Advice..bet small and take your chips on scalp gentlemen and to MR Morten.....keep those analysis coming for in the uncertain turbulences of the markets, providence from you is like the guiding light through the tides of Forex.

 

[Sive Morten]

Who knows what monday would bring. 3 weeks ago we were in the 123 last week we were in the 133 and this week we start with 1.27 something. The euro is really unorthodox thesedays and i can see that risks have quadrupeled when dealing with it. Besides the Eur Jpy who can fluctuate 300 to 500 pips in 1 or two days, the EUr USD is beginging to become just like that...600 pips move in nearly 2-3 days.

That's definitely so. The volatility on the market is outstanding right now. Some years ago you had be able to trade at daily for example. But now You can do it only at hourly with the same risk...

 

[William Edward]

Thank you MUCH Sive!

 

[Paul Onakoya]

flight to safety

guys,

i dont understand this.. the US is going into 2nd recession but the EU shows small signs of improvement, yet, yet the EURO has FALLEN against the dollar.... shouldn't it be the other way around??? Shouldn't the Euro go up because of negative sentiment from the US?

It's called flight to safety due to risk aversion. If there's global economic problems the USD and JPY are the safe haven currencies that people buy. Therefore, both currencies should automatically strengthen.

 

[Ahmed Apeakhume]

Thanks

Thanks Sive for your useful technical analysis... Wish you more pips in this week trading..... See you on top

 

[Vark]

Great job, Mr Morten! much appreciated!

 

[Mandrake]

Yeah Sive. I had to cut my profits short due to unpredictable U-Turn.

I am gonna continue trading like that but will be more cautious on upmove rather than down move. I am doing a lot of intraday scalp trade rather than daily trade. You can make double the pips trading hourly than on daily. But of course intraday requires more technical skills to do that if not you won't know when the U-Turn is happening.

I do hope it hits the weekly pp at around 1.29xx at previous high and continue down move that would make everything easier.

Good luck

 

[Sive Morten]

EUR/USD Update, Tue 17, August

Hello, friends

The price action was rather choppy during previous days, but 1.27-1.2730 area holds. I do not see any nice signals right now, good thrusts up, strength of something like that. But market has returned above monthly pivot point and It makes me think that possibly we still can see move to the weekly one around 1.2930.
If market will move below 1.2780 again, well, possibly our hopes for short-term rally will be over.

On hourly chart, I want to show that the target of possible AB-CD leg is right at weekly pivot and hourly Fib. resistance.

 

[danc]

Cracker

You area CRACKER Sevie.. much appreciated..and on the mark i reckon..