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EURO and GBP are expected to gain today

Posted on September 2, 2009 at 6:09 in Market comment, Market forecast, Operators' intentions by Dr. S. Sivaraman

EURO and GBP were dropped for month beginning yesterday and the longs were taken by the players when traders liquidated in fear.

Today they opened during Japanese session around the same levels and slowly firmed up to form the high.Commodity pairs are firmed up and are to be followed by EURO and GBP.After brief dip during gap time and start of European session they are expected to rise nicely from mid European session.Furher rise is expectred during US session.The players have made the drop before the big events like ECB rate decision and NFP data to rise big EURO and GBP during and after the events.

Regards

Dr.Sivaraman

4 Responses to “EURO and GBP are expected to gain today”

on 02 Sep 2009 at 6:51 am1Alex

Doc, what event would make you change your prediction (or change the algoritm’s forecast)of an upward move. It seems the forecast has being saing ‘big upward’ move for a whole month while the market has continued to drop. Obviously if the forecast keeps being ‘big upward move’ then by chance it will be right eventually.

Put simply do you still see the rise reaching the 1.67+ level for gbp/usd in the next few weeks, or will it be a rise to 1.64ish and then the big drop which you have previous predicted for this month?
on 02 Sep 2009 at 9:00 am2Francesco

Dear Dr. Sivaraman,

do you still expect new highs to come for EUR and GBP?

Thank you!
on 02 Sep 2009 at 12:48 pm3smith

Dear Doc,

we have seen good rise today. From now what can be the expectation? dips and further rise during US session? Do you think that the GBP will cut the high today?
USDJPY is still dipping, no strenght for rise. When can we calculate with the reversal?

regards,
smith
on 02 Sep 2009 at 1:08 pm4Sam

Dr,

Both the asian and european sessions have risen. With respect to the hat-trick rule, is it safe to assume that the US session will not rise?

Thanks.

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