looking for NFP data
it is week end time.Market awaits the out come of NFP to be announced by 12;30 GMT just before the US presidential election by next week.more caution may be seen among the traders while committing positions.
As a result EURO and GBP underwent profit booking moves .
Currently subdued moves are seen during japanese session.Euro and GBP are holding closer to initial low set for the day.they could make a false dip during late Japanese session .after some brief downward stop hunt during gap time they are expected to swing and rise during Early European session.Late European session they may breach the initial high set for the day..quick volatile moves may be seen during NFP announcement time.later firming up moves may be seen till close of European session.
Swing and rise moves are expected during US session for the week end.Players dropped and bought to book profit after the rise.
From next week after week beginning false move the upward trend may be set in EURO and GBP.
Regards
Dr.Sivaraman
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Comment by Jacobson MAthew on November 2, 2012 at 11:43am -
hi doc
how come u contnuously claim swing & up moves and market always is down...?beats me...
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Comment by Dr. Sivaraman on November 2, 2012 at 11:53am -
Hi Jacobson
Market is known to make up and down moves to confuse traders- but expected to slowly claim up.use trading strategy to limit the risk by taking very less positions or as a smart traders enter and exit during quick drop and quick rise rimes of the market
Regards
Dr.Sivaraman
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Comment by Alan Hill From Sarrafx Trading on November 2, 2012 at 11:58am -
Don't think that actually answers the question
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Comment by Dr. Sivaraman on November 2, 2012 at 1:02pm
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dear Alan Hill:
Volatility is part of market moves only then traders can speculate either way.After NFP EURO and GBP corrected downward.Once they go above initial low we may see the gaining moves during US session - The market sentiment is known to change from time to time.
My view is given as forecast -EURO and GBP are expected to gain again - still please use the trading strategy to limit the risk and maximize the profit.
Regards
Dr.Sivaraman
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Comment by Jason on November 2, 2012 at 1:10pm
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Hi Dr.
Thanks for your posting.
I am just curious on the way you read USD/JPY earlier.
You indicated that USD/JPY will drop after NFP but it gained instead to 80.60 region.
So how do you see this pair from current levels during the remaining market hours today ?
Thanks
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Comment by Alan Hill From Sarrafx Trading on November 2, 2012 at 1:17pm
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Hi Dr
You say Eur corrected downward after NFP. I am curious why you say corrected? Looking at the one hour chart today, here are three small upwards candles @ 9,10,11 this morning, weren't they corrections to the move that has been happening today?
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Comment by Dr. Sivaraman on November 2, 2012 at 1:21pm
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Dear Jason
Yes USD/YEN gained after NFP and stalled the rise Aslo they dropped GBP more in net change to create the bearish sentiment.it is gap time before the start of US session from 13;30 GMT.let us watch how they make the moves during US session.If they slide USD/YEN and stop cutting low in EURO and GBP in first 30 min of US session till 14:00 GMT - then we may see the risk appetite moves - we have seen many times the players create the market sentiment and act against.
Regards
Dr.Sivaraman
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Comment by cristotrading on November 2, 2012 at 1:23pm -
no need to pin down traders. its easy to do that.
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Comment by Dr. Sivaraman on November 2, 2012 at 1:25pm
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Dear Alan Hill
I respect your studies and views.I have presented my views only and it can be wrong or go wrong..I try to read the intentions of the players - they create market sentiment and act against later - hence presented my views that the players drop and buy,then rise and book profit.
you may know well there can be two views in the market ...
Regards
dr.Sivaraman
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Comment by Alan Hill From Sarrafx Trading on November 2, 2012 at 1:26pm
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Thank you Dr. for your answer
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