EUR/USD Daily Video, March 13, 2018

[Sive Morten]

Good morning,

Recent session was not very active, so overall situation has not changed significantly. Right now we see some signs of weakness in price action that stands in favor of downside continuation. Still, we have to follow our weekly trading plan and wait for final confirmation:



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.

 

[ward133]

Mr sive.
Again asking about cad please
Fundamental didn't they agreed with the us that Canada will be exemption from nafa ! So that should give more strength on cad ? Or it's not this way ??
Thx

 

[Brett Reynolds]

I think a pullback to 1.20/1.21 is likely..!? This is all consolidation under 2008 Trendline. Will we have Breakout or do i see formation of 'Head' & Left Shoulder' on BIG H&S Pattern.!??

 

[Sive Morten]

Mr sive.
Again asking about cad please
Fundamental didn't they agreed with the us that Canada will be exemption from nafa ! So that should give more strength on cad ? Or it's not this way ??
Thx

Well, CAD behaves independenty now as indeed it has relation to NAFTA talks. In general it stands rather close to 1.3140 major target. As it has jumped yesterday, it is not attractive to take long position today (at least for me). Indeed, upside continuation is possible, odds suggest that 1.3140 target should be reached.