AUD has gained from the new low they set yesterday and and USD/CAD has rised to reach parity with USD/CHF.Are these moves the start of the reversals in them?….If we consider that the players make sequential reversals, then true.
Yen crosses are also making the reversals if we believe that the sequential reversal happen in the market.Then followed by in Majors the reversal could be seen.Normally they make big moves in GBP before and after reversal as the volume in that is relatively low when compared with EURO.We will watch how deep they drop GBP before the rise.Already a new low for the season they have shown in GBP,100 pips lower than the current low may be the the potency.These derivations are based on the expectations that they tend to do trend reversals during second week of the month.if it is true then they should hold the rised up levels and further rise the commodity pairs and also yen crosses till week end .
Regards
Dr.Sivaraman
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Dear Doc,
Doc can your explain all of that in layman terms.
Dear Sean
Players handle specific pairs at a time to bring in volatile moves in their respective crosses.So any reversal move they start with commodity pairs.Followed by YEN crosses.Then majors and European crosses at the last leg.So now it appears the commodity pairs they have reversed from the fall.So next they should make a quick downward move and then rise majors as they also mostly made reversals in YEN crosses.Already GBP has made a new low 1.7176 and if they held that as low that means they have already made the quick drop and current trise could continue.If not then they may make another quick drop and then rise.
Followerd by that the rise in European crosses could be seen.
Regards
Dr.Sivaraman
Dear Doctor
I’m curious to know if you still believe your algorithm is a reliable tool to forecast the fx market day to day? If you do still believe it is reliable, do you know why it has been wrong so often over the past few months?
Regards
Roy
“they tend to do trend reversals during second week of the month”
Doc!
For crying out loud!
You did not take in the account the vestals weaving their hair in blue moon every third month of the unicorn age during jupiter transition!