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Week end -expected moves

Posted on October 16, 2009 at 2:51 in Market comment, Market forecast, Operators' intentions by Dr. S. Sivaraman

EURO and GBP made the higher level swings towards close of yesterday US session.Now for week end time gbp/USD has made a huge upward gap opening when EURO was holding - mainly to drop further EURO/GBP.

A last attempt to induce short covering in EURO and GBP before the week end drop.

EURO and GBP are expected to hold high and may make a brief upward stop hunt during 05:00-06:00 GMT and then slide during early European session to firm up during mid European session to handle the crosses - mostly contrarian moves.During late European and US session times they are expected to drop significantly for week end close.

Monday for week beginning they are expected to make extended downward move.

I will give update if there is any change in the expectations after reading their session wise market moves.

Regards

Dr.Sivaraman

Tags: EURO/GBP drop

16 Responses to “Week end -expected moves”

on 16 Oct 2009 at 3:04 am1rich

Dr.
View on USD/CAD ?
on 16 Oct 2009 at 4:31 am2michael

doc are they expected to cut the high at 5 to 6 gmt time
thank you
on 16 Oct 2009 at 4:36 am3Adnan Butt

Respected dr,

Where we see eur/usd today close?

with thanks
on 16 Oct 2009 at 5:47 am4smith

Doc, yesterday’s webinar you mentioned that GBP will come back below 1.60. This view is still valid? Regarding EURGBP do you expect further drop today or will it rise back to 0.92 area and drop from that?

regards,
smith
on 16 Oct 2009 at 6:00 am5Arun Kandyal

Hi Sir
‘WISH YOU A VERY HAPPY DIWALI’.
REGARDS
ARUN KANDYAL
on 16 Oct 2009 at 6:15 am6Dr. S. Sivaraman

Dear rich,Adnan Butt & smith
Euro/usd,GBP/USD,AUD/USD and EURO/GBP are to drop today and USD/CHF,USD/YEN and USD/CAD are torise significantly during US session.
Regards
Dr.Sivaraman
on 16 Oct 2009 at 6:16 am7Dr. S. Sivaraman

Dear Arun Kandyal
Thanks and wish you all the same.
Regards
Dr.Sivaraman
on 16 Oct 2009 at 6:29 am8Robin

“H@ppy DIW@L! DOC”"
on 16 Oct 2009 at 6:38 am9Sasa

Should eur drop to 1.4800 level?

Regards
on 16 Oct 2009 at 6:59 am10Ahmed Hanif

Happy Diwali
on 16 Oct 2009 at 7:03 am11joshhh

Happy Diwali Doc & Fellow Traders,

Hope you have a wonderful festival time & may coming year bring good health & prosperity to all of you.

Doc,I take this festive time to appreciate your teaching which is helping us immensely.

thanks for your time,effort, teaching & blessings.

regards

Utpal Joshi
on 16 Oct 2009 at 7:06 am12Adnan Butt

Respected Dr,

Thanks for comments

Happy Dewali
on 16 Oct 2009 at 7:26 am13smith

Doc, both EUR and GBP cut the low during gap time. This is a buying opportunity or we shouldn’t do any buy trade today?
on 16 Oct 2009 at 8:16 am14smith

it was worth to buy EUR and GBP during gap time… so now the question is how high can EUR and GBP can go today?
on 16 Oct 2009 at 8:26 am15Dr. S. Sivaraman

Dear All
As explained in the post there will be small firming up move in EURO and GBP during mid European session and then the slide and drop are to be seen till week end close.The lower levels could be determined based on selling pressure and long liquidation.But players are to drop more on Monday as well.So plan your trades accordingly.denominator currencies are expected to rise.
Regards
Dr.Sivaraman
on 16 Oct 2009 at 8:35 am16Fawad

DO u c gbp/usd to 7000 by the end of this year?

Regards

Fawad

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