FOREX PRO Weekly June 13 - 17, 2011

EUR/USD Daily Update, Tue 14, June 2011

Good morning,
market has formed contradicitive signals, so that does not make our analysis easier.

On daily time frame we see bullish stop grabber. This increases chances that daily B&B with target 1.4550 has started already. IF market will form something like that today and tomorrow with close above pivot, then I suppose, we might say, that market even will take out the highs at 1.4650.
Daily trend is bullish, market neither oversold nor overbought

On 4 hour chart we see next resistance stands at 1.4422. This is very important, because it also stands near high of nasty black candle. If market will erase this candle - then conclusion is obvious - market even more bullish then it seems now.

Hourly chart adds to 1.4422 also an Agreement with 1.618 1.4434 target. So, that an area to watch for during today's trading session.
Since market not at oversold - there are no barriers above it and we can use any nearest Fib support to enter Long. This could be 1.4375 or 1.4363-1.4365.
Stop could be placed below recent swing low 1.4339
 

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Hi Sive,

Thanks a lot for your today analysis. I'm always waiting for your analysis everyday prior to post any position.

My questions are:

1. From my trading platform, market has touched 1.4375 today. Any chances market will touch it again?

2. We see strong support at 50% fibo retracement yesterday. Market tried to break this support not less than 16 times on Hourly chart! So in your opinion, any possibilities market will break this 0.5 fibo retracement to 0.618 from recent daily up swing based on current condition? Or can we conclude that Daily B&B buy just started at 0.5 fibo retracement?

Thanks a lot Sir.
 

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Hi Sive,

Thanks a lot for your today analysis. I'm always waiting for your analysis everyday prior to post any position.

My questions are:

1. From my trading platform, market has touched 1.4365 today. Any chances market will touch it again?

2. We see strong support at 50% fibo retracement yesterday. Market tried to break this support not less than 16 times on Hourly chart! So in your opinion, any possibilities market will break this 0.5 fibo retracement to 0.618 from recent daily up swing based on current condition? Or can we conclude that Daily B&B buy just started at 0.5 fibo retracement?

Thanks a lot Sir.

It's very difficult to say, based on current price action. Currently I believe more in reaching 1.4550 . Mostly due daily stop grabber and 50% support.
Usually, if I do not see clear patterns or something, I do not possess myself just on thinking that it should be so or though. Currently I see that market probably will reach 1.4420-1.4430. That's my current basis for work. And what will be after that - will see...
 
It's very difficult to say, based on current price action. Currently I believe more in reaching 1.4550 . Mostly due daily stop grabber and 50% support.
Usually, if I do not see clear patterns or something, I do not possess myself just on thinking that it should be so or though. Currently I see that market probably will reach 1.4420-1.4430. That's my current basis for work. And what will be after that - will see...

Aye aye Sir! Thank you very much. Your answer always helps me a lot. Thanks again.:)
 
Kiwi

Dear Sive;
Could you please tell us if we're experiencing a DRPO in the kiwi?
also, what is the simple meaning of stop grabber?
thanks a million for all you do for us!
sincerely
mjunkyard
 
Buy now ?

Hi sive,

Market price already 4460, whether its time for enter long ? Or maybe we should wait for retrace ?

-Thank you-
 
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Dear Sive;
Could you please tell us if we're experiencing a DRPO in the kiwi?
also, what is the simple meaning of stop grabber?
thanks a million for all you do for us!
sincerely
mjunkyard
Hi Mjunkyard,
if you're talking about daily then, this is not DRPO - poor thrust up. This price action mostly due monthly chart - market has hit 0.618 long term target and shows W&R on weekly of previous highs (March 2008).
Stop grabber is a kind of price action, when market shifts trend and involve public to enter according to this signal, but later does not confirm this shift in trend. This traps public in wrong positions. After that market very often moves in direction of previous trend and grabs public's stops. That's why it calls like that.

Hi sive,

Market price already 4460, whether its time for enter long ? Or maybe we should wait for retrace ?

-Thank you-

Hi Jimmy,
actually market has hit an area where we had have to enter Long - nearest Fib support on houly chart - just before splash up, as we 've specified in update.
Now it stands at resistance, so, probably it's better to wait a bit...
 
hi Sive , as always thanks for your free time .....a general question .....the forward market is currently around 30/35 pips lower than the spot market i think ? so just to be clear ...we need to add on that sort of difference to get a true reading of your calculations and level and charts , is this correct please ?
 
hi Sive , as always thanks for your free time .....a general question .....the forward market is currently around 30/35 pips lower than the spot market i think ? so just to be clear ...we need to add on that sort of difference to get a true reading of your calculations and level and charts , is this correct please ?

If you draw the areas corresponding to the same timing on your chart you should be able to have it right there for you.
 
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