EURO and GBP made the Japanese session rise and driopped during early European session.But they are not showing recovery move to high during mid European session.probably the low is not well supported for a rise.The volatile move is not happening.This condition may lead to intentional move of slowl slide during late european session and drop during US session.stay put in the market.



Views: 22

Comment by JimV on July 21, 2011 at 10:38am

Dear Dr.Sivaraman,

so you don't think there gonna be a bounce today? We are in a range of over 150 from high, could there be more without any bounce?

I am watching over Gold and I think there is going to slide and drop after EU summit. What do you see on that?




Comment by Dr. Sivaraman on July 21, 2011 at 11:09am

Dear Jim

For a good volatile move a quick drop and quick rise are needed for some more rise- a sluggish move around the new low may lead to profit booking by the short sellers and the rise may not happen for them to do short covering.When profit booking opportunity is given to the short selers the long holders are in unfavorable situation. So a nominal swing to induce traders to take long and then slide may happen for rest of the day.This situation may lead to inducing higher level long holders to liquidate for week end incase they have not booked profit during the rise.



Comment by manan shah on July 21, 2011 at 12:37pm



we saw back to high and even gbp making new high? what do you see today and tomorrow





Comment by Dr. Sivaraman on July 21, 2011 at 12:44pm

Dear manan

This was the rise expected during late European session - but they failed to cut the high in euro- we may see slide during Us session.GBP cut the high and it may slide later to drop euro/gbp first.



Comment by MarlonF on July 21, 2011 at 12:48pm

Dear Dr.,

EURO rise, how do you think it would impact silver / gold? are they suppose to gain levels or drop cos of lesser risk sentiment?


You need to be a member of Forex Social Network to add comments!


© 2018   Created by FXStreet.   Powered by

Badges  |  Report an Issue  |  Terms of Service


Live Video