EUR/USD Daily Video, 19 April 2017

[Sive Morten]

Good morning,

Although EUR is showing higher retracement, but it doesn't cancel overall bearish setup yet and we think that rally has loose foundation, if we will take in consideration coming events in EU:





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.

 

[Brett Reynolds]

Looks like Cable is fulfilling the large Reverse H&S prophecy? I mentioned a couple of weeks ago a 'Close and Hold' above 1.27 would be a good sign! I'll be waiting for retracement to go long again with next target being around the 1.33 area? Target after that would be 1.39..and who knows...if the General Election is very good result for Conservative Party..then the Bulls could push the £..much Higher!?

 

[Sive Morten]

with next target being around the 1.33 area? Target after that would be 1.39..and who knows.

Hi Brett, 1.33 yes - we've talked about it in weekly research. But, still, our long-term view is bearish and right now we treat this action as retracement but not as change in global trend. Collapse on monthly chart is very strong, and it just can't stop in a moment... some extension down should follow sooner or later.