FOREX PRO Weekly November 14-18, 2011

Aldo Colombo

Corporal
14:28 Gmt

Hi Sive, do we still expect to see price action at 1.3820 or are we heading south? There seems to be no real catalyst for this move down, 1.3676-1.3683 didn´t hold so our short-term scenario has changed maybe? Thanks for your views!!!
Aldo
 

Damian1987

Corporal
Hi Sive, do we still expect to see price action at 1.3820 or are we heading south? There seems to be no real catalyst for this move down, 1.3676-1.3683 didn´t hold so our short-term scenario has changed maybe? Thanks for your views!!!
Aldo
I am surprised aswell on how market reacted at the beginning of the week. My fundamental analysis skills are not developed, but I think Angela Merkel's comments on Euro zone at 6:12 AM (NY time) where the catalyst to drop from weekly pivot point to where we are now. In my own opinion , for intraday traders 1,3822 is out of scope at the moment. I reckon more important is price action around 1,36 area. (* .618 retracement of last swing up) and 4-hour MACDP. Market has been very strong, breaking confluence area with no respect at all.
 

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asif faryad

Sergeant
weekly anyalis

Hi Aldo,

I dont know if you read Sives weekly report as the market early this morning reached 13813 on the spot market so Sives if you read analysis is on the money ! as usually.

Hope it helps

Asif
 

Aldo Colombo

Corporal
Hi Aldo,

I dont know if you read Sives weekly report as the market early this morning reached 13813 on the spot market so Sives if you read analysis is on the money ! as usually.

Hope it helps

Asif
I eat the report in fact!!! My question aimed at if we should take this 1.3813 as all we had to see about 3820s (ie not thoroughly reached), it seems so at present. Or if we should expect price to try to reach it again. Technically I´m very limited but I guess this move to 1.3625 means something. Aldo
 

Sive Morten

Special Consultant to the FPA
EUR/USD Daily Update, Tue 15, November 2011

Good morning,
Market has not accomplished our suggestions of reachng 1.3830 area. Strong hourly support area around 1.3680 has been broken without any respect. That probably tells us that market is gaining bearish momentum again.

So if we take a look at daily time frame we will see absolutely classical bearish behavior - hitting 0.618 target, then 0.382 retracement and start of continuation move down. Trend is bearish, market stands below both pivots.
Also, remember the bottom line of pennant - market has retested it from downside. There are couple of targets below the market. Nearest one is 1.3420 - 1.0 extension from most recent AB-CD. Next is 1.3240 - according current behavior this is the level where market might be going.

On 4 hour chart we see that trend is also bearish. Just below the market 0.618 target from recent AB-CD pattern in agreement with 0.618 support. Still, I'm not very fascinating with it, since this level has been tested already and significantly pierced. So, It will be poor relief for bulls.

On hourly chart trend is bullish. It tells, that probably market could show some retracement up. Also we see not bad context for DRPO "Buy" LAL (too much consolidation between penetrations), second penetration has not happened yet. If market will confirm DRPO and realize it - then we may count on move to 1.3670-1.37 area. There probably we can start to watch for sell signals.
If market will fail to form DRPO - then downward move probably will accelerate.
 

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Damian1987

Corporal
hi damian sir which broker is that! and how much they charge for dinapoli pack
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