EUR/USD Daily Video, May 14, 2018

[Sive Morten]

Good morning,

Technical background on EUR suggests moderate pullback that could last for 1-2 weeks. On coming week we will be watching mostly for daily either B&B or DRPO patterns:



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.

 

[mohan02]

Hi Sive,
Do you see a B&B sell on EURJPY?

 

[Sive Morten]

Hi Sive,
Do you see a B&B sell on EURJPY?

Hi, I'm very rare look at this pair. Could you post the chart, where you see B&B.

 

[mohan02]

Hi, I'm very rare look at this pair. Could you post the chart, where you see B&B.

 

[Sive Morten]

View attachment 37565

Yes, it seems that B&B indeed was formed.
But, since upside retracement looks fast - keep an eye on intraday for bearish reversal patterns around Fib levels, don't go short just because some Fib resistance has been hit. Sometimes, B&B could start from 50% or even 5/8.