AUD/USD Daily Video, July 20, 2017

[Sive Morten]

Good morning,

Aussie creates a background for meaningful retracement on daily chart:



The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[greaseball]

Hi Sive,

Thank you for this. Also do you think it is significant the weekly Pivot Point has not been traded yet? It could attract the price and get us close to the 382 retracement.

 

[Sive Morten]

Hi Sive,

Thank you for this. Also do you think it is significant the weekly Pivot Point has not been traded yet? It could attract the price and get us close to the 382 retracement.

Well, It makes sense, but I use Pivots as add-on, secondary tool. They are not primary driving factor. Besides, today's Friday, and week is mostly over, but pivots are more important in the beginning of the week.