Euro and GBP made the slide and drop till close of European session as expected by the forecast model.Euro and GBP made negative net change of 150 pips and making small firming up moves.
can they drop more?
Euro and GBP are expected to drop more after brief pull back during start of US session.They may be sell opportunities near initial lows of the day set during early japanese session.
Tomorrow, for FOMC rate decision, before hand the market is expected to swing and slide more to net permissable level of the day and then expected to make volatile moves during FOMC rate announcement time to drop more for BOE and ECB rate announcements expected to be announced day after tomorrow.Then further drop for NFP data release.
I will give more detailed expected market moves for those days during the respective days.
RegardsDr.Sivaraman
Tuesday, November 3, 2009
Doc's Addendum II, 11/3/09
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I'm holding 2 shorts on GBP (1.6312 and 1.6389) waiting for the drop :( hopefully it comes soon.
ReplyDeleteI'm holding 2 shorts 6339 and 4005. And one long hedge at 6384. I have another hedge ready at 6430.
ReplyDeleteI have a single hedge on both at 6417. Do you believe doctor's forecast will become true eventually?
ReplyDeleteToo early to tell. Doc says to keep a hedge for 2 days to confirm (or reject) trend reversal. Doc said that GU and EU would be falling until Nov 11. I doubt his forecast could be off by that much, but it's possible. We shall see what he says tonight.
ReplyDeleteDo you usually attend to the forecasts? It's 3am in the morning for me, unfortunately.
ReplyDeleteYes, every night. I will be posting up his forecast immediately after the webinar.
ReplyDeleteExcellent, thank's much.
ReplyDelete