FOREX PRO Weekly March 18-22, 2013

[Sive Morten]

Sure - here is possible DRPO "Sell" that could appear by the end of this week:

 

[Joh]

Thank you Sive

 

[BeeKay8]

Good morning,
Sometimes I scare how tehcnical analysis foreseing some future events. Recall that in November 2011 on really big picture (that was a quarterly chart) we suggested the move to 1.16. And now it is in progress...

I agree. Another (smaller scale) example would be February 2013 monthly candle close. We have confirmed bearish engulfing pattern with target at around 1.2500, and guess what? A couple of weeks into March and we have this Cyprus situation. It is really scary how things work out sometimes. From technical point of view, we knew the chances of market proceeding to 1.2500 was probable and now with Cyprus situation it looks like it may become reality...

 

[jianean]

Hm, may be...
still I've expressed my opinion in today's update. Even gold looks more interesting now.
Actually guys, take a look at daily S&P - we have nice bullish stop grabber. As technically as fundametally (at least if Cyprus will say "yes" to robbing) - that is in favor of US and dollar itself. Anyway this will be more safe than dealing with EUR before voting...

Hi All,
With reference to the requirement by the Europeans, of Cyprus stealing from all their bank depositors, does anyone else agree with me that those who made that decision clearly do not understand the difference between what is right and what is wrong. As a result, I feel they should all be removed from office as they are unfit people and the International Court of Justice should teach them a lesson.
What do others feel?
And who is going to start the ball rolling.
It is useless going to the European Court because the same people will have significant influence over anything the European Court do.

 

[Joh]

Sive your words; 'Concerning situation Cyprus I can say only that now delegation is in Russia and they are trying to find acceptable rescue measures. Probably the talk stands with merging of Banking sector by russian giants as VTB and Sberbank and some other assets.
Here I was really shocked by Merkel that she said - I don't want to rescue russian and other depositors by the money of German taxpayers... Wait a minute - depositors do not need any rescue. Probably she wants to say that I want to rescue german taxpayers by the money of cyprus depositors... Russian prime minister correctly said that EU shows quite uncareful solution and behavior - like an elephant in dish store. Very nice compare'.

The Germans and the French wanted above all else a United Europe - they have bungled this Eurozone from the start -did not stick to their own guidelines/protocols or rules -millions have been spend on ''talkfests'' on the politicians in hugely expensive hotels/ skiing resorts all over Europe they have wined and dined -toasting each others smiling whilst they BS the world at large including their own citizens. Of course when it comes to the crunch they only interested in themselves - the public @ large suffers -what is new here?

 

[BeeKay8]

Hey Sive,

Is it possible to say we also have bearish dynamic pressure on the daily timeframe? Trend has been bullish since the 15th of March but as you can see, price action has not been bullish at all.

EUR/USD remained bullish even with Cyprus news but PA does not reflect this.

Best,
Brandon

 

[Sive Morten]

Hi Brandon,
well, probably yes by the nature of current action. Still, theoretically we would like to see a bit more extended in time action and lower highs tendency. Here it's a bit tight action.
But nature is yes - similar to DP.

 

[Synchronicity]

As we have now returned to the Head & Shoulders neck line I guess the next thing to watch out for is a H&S failure?

All the best

Michael

 

[BeeKay8]

Russia bails on Cyprus as deadline looms
It looks like a Russian rescue of Cyprus is off the table, at least for now.

 

[FreddyFX]

I have not been able to find Sive's Weekly analysis for the coming week March 25 yet.