Either way moves
Two days from week beginning we have seen higher level consolidation in EURO and GBP.Today we have seen a quick drop below the initial low and a quick rise and gain above the high as eitherway wide range move.Towards close of European session and early US session we may see higher level swing and then the slide may be seen as profit booking move.US is gaining and losing alternatively against other majors.
This sort of higher level swings normally induce short sellers to cover short and turn long.After that slow slide and drops may be seen as a trap move for the long holders.
Trade with care as volatile moves are to continue during multi year trend reversal moves.
Regads
Dr.Sivaraman
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Comment by Richard on August 17, 2011 at 2:13pm -
dear doc will eur/usd reach 1.47 before falling
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Comment by Joao Pedro Cameira Gomes on August 17, 2011 at 2:17pm
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Dear Dr. Sivaraman:
Thank you for your kind advice. Would you please express your point of view, in regard to EUR/USD, as to when one could expect this cross to go down to around 1,44 level? I Refer to the great volatility this cross (and others!) are experiencing just now...My idea would be to go long right around the 1,44 level...
Warm regards
Pedro
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Comment by Dr. Sivaraman on August 17, 2011 at 2:18pm -
Dear Richard
In my estimate euro is expected to trade in the range of 1.45-1.39 in this and next month.
My estimate may be taken as a guideline only.
Regards
Dr.Sivaraman
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Comment by Dr. Sivaraman on August 17, 2011 at 2:23pm
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Dear Joao
The rise might have created the bullish feel to go long during next sldide.But keep in mind that the players can make a spread move of 400-600 pips moves to trap the lower level short sellers and higher level long holders alternatively.
My analysis is expecting the wide range in euro 1.45-1.39 and GBP - 1.65-1.59 in this and next month.Players are more focused to gain levels in the currencies made multi year moves such as USd/CHF,USD/YEN and AUD.
Regards
Dr.Sivaraman
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Comment by Joao Pedro Cameira Gomes on August 17, 2011 at 2:35pm
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Dear Dr. Sivaraman:
Thank you for taking the time to express your views.
Warm regards
Pedro
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Comment by Gregor on August 17, 2011 at 3:32pm
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Thank you very much.
G.
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