FOREX PRO WEEKLY, November 08-12, 2010

[rasto007]

DPRO na 5m

Interesting beginnig of DRPO setting up on 5m EURUSD. What do you think?

Rasto

 

[Sive Morten]

I absolutely do not get what's going on in the market. Europe's GDP missing expectations, and EU is shooting up, while it should be going down. Swiss frank should be going down, it is actually going up. If this is not market manipulation, what is?

Well, yesterday was a Veteran's day, and there is a G-20 currently. Any smallest blah-blah from politicans drive thin market.

Yeah, exactly. I suppose those rumors are the means.

That was crazy ride. I held onto my shots position for the whole spike up and now it crashed back a bit, so I closed.

Sive, what are your thoughts on current situation?

RAsto

G-20 ends today, I wish to wait until closing of the week. Currenly I have only small short position on swissy. Franc has very interesting situation currently. Possibly I'll dedicate my weekly analysis to CHF.

Interesting beginnig of DRPO setting up on 5m EURUSD. What do you think?

Rasto

Rasto, I rare trade DRPO on intraday charts. Because I find them not so reliable as daily and weekly. Sometimes I trade them, but usually on hourly or 4-hour charts.

 

[MidnightRun]

CHF

"Franc has very interesting situation currently. Possibly I'll dedicate my weekly analysis to CHF."

Sive, do you think it may be going down?
Thanks

 

[Sive Morten]

"Franc has very interesting situation currently. Possibly I'll dedicate my weekly analysis to CHF."

Sive, do you think it may be going down?
Thanks

If we will close below weekly and monthly pivots it will give me more confidence.
In general, my answer is yes. But situation is very tricky on weekly and monthly time frames.
If you will take a look at weekly chart - you can see that DRPO Buy is possible there. The main question however - will we see the new lows first or not.