FOREX PRO Weekly December 05-09, 2011


Hi Sive,

Thanks a lot for your update. It always exciting to hear from you. I'm not so sure about my MACD but it show bearish trend on H1. Any possibility that downmove could start from now?
Thanks and Best Regards.
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There is market talk (unconfirmed)at GMT 08:11 of some Middle Eastern & Asian going in to buy up cheap Euro at the 1.3313 level. That is what's probably driving the EUR/USD up at this very moment forming a "W" on the M5 chart.

EMU EU Economic Summit already started in Brussel 8.30am their time



Long-term bias looks solidly bearish. It makes sense to hold long-term bearish positions.
In short term perspective market has not destroyed all bridges to upward continuation yet. Theoretically there are some chances for deeper AB-CD retracement on daily right to 1.36-1.3630 K-resistance area. That’s why during coming week we have to keep an eye on possible bearish dynamic pressure on daily time frame.
Now it seems so, that probably market has reestablished downward move with medium-term trend. There are two ways how you may act. First, as we’ve discussed in hourly part of research. Second is to wait stronger confirmation of retracement end – moving below 1.3250 area. Still you may apply both of them – just split your trading position.

Thanks alot for your analysis Sieve, it really breath taking. But with regards to your view on long-term bearish standing, I want to state here that you should review the charts because is just matter of time when the lower cycle coincides with longer cycle which I estimated in couple of days (2-3) that you will see the BULLISH taking shape. So I want to advise the long term position holder to be on the look out.

Triantus Shango

Sergeant Major
What a Zoo!
Sive, if you are reading - can we treat a B&B buy as market went a bit below 61.8? White line is 3X3

yes but what a beautiful zoo! i love it. now things are getting even more interesting. bearish signals and tentative bullish signals... interestingly we are ending the week without breaking above and out of downward channel and trend line... butterfly buy on H1 worked like a charm, now watching for butterfly buy in progress on H4: if correct, 3460 or so should hold as RSST and then drop down to 311x at least... then up.

but if not, the USD looks kinda top heavy on the daily USDNOK chart where there is a chance of at least 1300 pips downslide... if that happens, then EUR should rocket up unless i'm missing something. even USDNOK weekly TIs look like a bearish cycle is starting. so USD down, EUR up. problem now is timing. :)


What a Zoo!
Sive, if you are reading - can we treat a B&B buy as market went a bit below 61.8? White line is 3X3
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You need more thrust in order to call it a bread n butter. At least 8 thrusting bars, 10 to 15 is better. be sure to have the same calculation of the moving average that Dinapoli for Dinapoli's patterns. there's a lot of types of calculating an average.