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

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Why big recoveries?- japanese session moves

Posted on October 29, 2008 at 5:11 in Market comment, Market forecast, Operators' intentions by Dr. S. Sivaraman

EURO and GBP were looking so weak for 2 days as if they are expected to make range bound swings.But the players made the huge rise in them towards close of US session and gap time and made the upward extended stop hunt and then now holding around the middle level for the traders to enter long.Then they could make one extended downward stop hunt during the day to earn from either way quick stop hunt moves and recover other majors further during the day..downward stop hunts near low are the levels to make buy with stop to manage the trades.

Today many are waiting for FOMC rate decision by 18:15 GMT.Before that the players are expected to make unassuming drop and rise with various attributes.Further recovery is expected towards close of US session today and more recovery by tomorrow.

Regards

Dr.Sivaraman

2 Responses to “Why big recoveries?- japanese session moves”

on 29 Oct 2008 at 8:38 am1Kristers

what will the fed rate cut mean for eur/usd ?
is it possible that the feds rate cut brings eur/usd back to the tops?
on 29 Oct 2008 at 11:23 am2Dr. S. Sivaraman

Dear Kristers
Fed interest rate cut - it is not the first time to review the impact.From 5.5% the rate has been cut many times and Euro was rising at that time with the story the money is going out of US and invested else where.The impact of all round cut of 50 bp in US and Europe only made USD gain in the name of credit crisis and all want to sit on USD to meet redumptions.Now we see EURO has gained from all the drops.Furhter cut if any they will give different story and make moves.But according to my analysis EURO is expected to slowly rise for month end and after elections in US the rise will be substantial.
Regards
Dr.Sivaraman

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