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Operators' intentions read by Dr. S. Sivaraman, of i-knowindices.com

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Recovery moves with swings

Posted on October 23, 2008 at 5:57 in Market comment, Market forecast, Operators' intentions by Dr. S. Sivaraman

EURO and GBP are expected to swing and recover mostly today.A small dip during Japanese session start and a recovery move to high set for the day.then again a dip during European session start and then a recovery move to go above initial high is expected.Then a quick firming up move to hit the stops of the short sellers and then a drop during gap time before US session and a recovery move is expected.This estimate is based on my forecast algorithm which gives the timings of the moves.I will give updates for each session based upon the observed moves and market reading .

Regards

Dr.Sivaraman

9 Responses to “Recovery moves with swings”

on 23 Oct 2008 at 6:11 am1jilli

Dear Dr,

I need to convert money to usd by november 1, would you suggest that I hold off at the moment, as we are nearer to the bottom?
on 23 Oct 2008 at 8:59 am2jilli

Hi Dr,

Are you there?
on 23 Oct 2008 at 9:18 am3tim

It seems a lot of technical analysts see a move to 1.17 and 1.55 in Eur and Gbp repectively in the near term. Are these massive moves in a matter of a few months sustainable .
on 23 Oct 2008 at 10:55 am4Dr. S. Sivaraman

Dear Jilli
Even by any estimate further downside is rather limited.So you can take chance to convert to USd by end of this month.
Regards
Dr.Sivaraman
on 23 Oct 2008 at 11:00 am5Dr. S. Sivaraman

Dear tim
The estimates are the potenciesor possible downside .In current context any thing may happen because drop of 500 pips in a single day has beocme acceptable for the market.Still if we watch for some time we will be able to judge whether still downward move can happen or not.Theoratically some levels can be estimated and practically whether they can be achieved taking the traders along with it is the question.
Regards
Dr.Sivaraman
on 23 Oct 2008 at 11:07 am6jilli

thanks dr. but should it be above 1.7 in november, as i can delay the conversion till mid november
on 23 Oct 2008 at 12:28 pm7Anish K Nayyar

Dr. What are your expectations for the rates of Euro, GBP for next 3 to 6 months.
on 23 Oct 2008 at 12:29 pm8pepe

jilli, I would not rely on the doc advise on this (especially if it’s a big amount of money you need to convert). According to his forecasts we should be above 1.85 in gbp and above 1.50 (as these are the levels from which he is recommending to buy those 2 currencies). If you don’t want to run big risks and participate if gbp appreciates, buy some USD now (maybe around 1.65 if possible) and then buy the rest in november…
on 23 Oct 2008 at 2:29 pm9Hans

I converted my GBP into US dollars when the rate was 1.9850. now it is around 1.61. How can I make up my big loss now or later.

Please advise Dr. Sivaraman

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