EUR/USD Daily Video, 30 May, 2016

[Sive Morten]

Good morning,

EUR has come very close to point where upside retracement theoretically should start. Now the major concern whether it will start or not (LOL):



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.

 

[IrwanI]

Thanks Sive.

 

[olaaka carlos]

Sive this is enlightening. However, what should we consider while looking out for a reversal? Just the retracement or candle line formations?

 

[Sive Morten]

Sive this is enlightening. However, what should we consider while looking out for a reversal? Just the retracement or candle line formations?

Well, personally I prefer some extended patterns, such as H&S, butterflies, 3-Drives, or DiNapoli reversals, as DRPO. But, sometimes, yes I also look for candlestick patterns, mostly on higher time frames, as weekly...
Thus, on EUR, as we've said in our research - we could start watch for reverse H&S on hourly chart.