EUR/USD Daily Video, 22 September, 2015

[Sive Morten]

Good morning,

EUR still holds bullish setup by letter but on daily chart it shows structural shifts that could open road to parity:



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]

The weekly candle from 4 weeks ago pierced the upper border of the channel then dropped right back 'below' 1.1450. We then had a retracement back to that level last week and on Friday 18th we had a 'Daily Bearish engulfing Candle' which topped out right at 1.1450 which was also the 50% retracement level of the large candle from 4 weeks ago. This was also around 'Half way point' of the channel too. Failure to 'hold and close' above the 1.1450 level keeps the 'weekly trend' intact imho!
Finally, look at the monthly candle from August. Yes it is large, but look at the 'long tail'..over half the candles size showing lack of strength in the market. 1.18-1.20 now looks 'a long way off' right!??