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

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market awaits ECB

Posted on March 3, 2011 at 10:36 in Market comment, Market forecast, Operators' intentions by Dr. S. Sivaraman

EURO and GBP made a subdued swing during Japanese session as many traders await ECB rate decisions by 12;45 GMT and EURO press conference by 13;30 GMT.GBP made a brief dip below initial low during japanese session.Further dip they have done during early European session to firm up.Euro may do a dip before ECB and then firm up after ECB press conference.This way EURO/GBP may show rise and drop.

During US session subdued swings may be seen as many traders could wait for NFP out come .

In the mean time denominator currencies may gain levels.

Regards

Dr.Sivaraman

Tags: ECB, EURO, GBP

11 Responses to “market awaits ECB”

on 03 Mar 2011 at 12:14 pm1Ikram

Thank you very much doctor. Your post gives me confidence to trade today again. Please tell me , I have started accumalating buy positions in USD/CHF for a long term position trade. Till what timeframe do you think we should hold such a position? 2-3 months?
Thanking you in advance
on 03 Mar 2011 at 12:23 pm2Ronan

Dear Dr, this is a very vague forecast. Does it mean majors wont do anything major till tomrrow nfp? You havent said rise or drop. In my opinion, it should retrace more to rise more. Regards, r
on 03 Mar 2011 at 12:31 pm3Dr. S. Sivaraman

Dear Ikram

Yes long term (1-2 months) we could see USD/CHF around parity.
Regards
Dr.Sivaraman
on 03 Mar 2011 at 12:33 pm4Dr. S. Sivaraman

Dear Ronan

Only narrow range swings may be see till tomorrow - so mostly sideways moves before the next big rise from next week.During this time denominator currencies are expected to rise.
Regards
Dr.Sivaraman
on 03 Mar 2011 at 12:42 pm5Ikram

Dear Ronan.

Not at all. It basically means, sell EUR/GBP now.
Buy GBP/USD now .
Wait for new low to be established in Euro after 12: 45 anouncement. If not cut in the last 30 min of 2hrs since beginning of drop try to buy EUR/USD.
Commodity pairs are leading the rally. AUD/USD staying above high for more than 30 min.
CHF Crosses are providing good oppurtunities today.
Wait for EUR/CHF to dip 35-45 pips from previous high before initiating buy. Profit target the same.GBP/CHF about 65-75 pips is the range.
on 03 Mar 2011 at 1:27 pm6manan

hello dr,

where do you see usd yen in 2 months from here..? i am building long on usd.yen too.. first entry 82.30

thanks

manan
on 03 Mar 2011 at 1:55 pm7vinesh

Doc, do you expect EURO to go over 1.4 in next week
on 03 Mar 2011 at 2:01 pm8sundar

US session 30 minutes false moves?
on 03 Mar 2011 at 2:39 pm9SUSUMI

Dear Doctor,

Great Great market estimation today.No words to explain about your ability.Truthfully telling you are a GREAT MASTER.

Wishes and regards Sir.
on 03 Mar 2011 at 2:44 pm10SUSUMI

Dear Doctor,

Is it possible to break 1.4000 level this week in EUR ? GBP is holding in lower only.Is this the maximum limit in higher side for this week ?
on 03 Mar 2011 at 3:26 pm11Anurag

Sir, all praises for you, spot on forecast esp. for denominator currency

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