EUR/USD Daily Video, February 15, 2011

[Sive Morten]

Good morning,
market has reached strong area of support and accomplished Gartley AB-CD pattern, so I think that moment for some pullback has come. Depending on who you are - intraday trader or day trader, there are different opportunities, but levels to watch are the same:







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.

 

[Sive Morten]

Nice butterfly is forming on hourly EUR chart. The first 1.272 target is 1.3590

 

[erich]

ad butterfly

hi Sive,

thanks for your reliable analyses on EUR/USD!!!

Sive, please could you give us a comment on USD/CHF - the daily chart forms a bearish Gartley, the second in a row; maybe could it be the initial signal to finish the 127,2% expansion of the monthly butterfly?
by the way, USD/JPY shows similar price action; the monthly butterfly (since 2000) finished 161,8% expansion of XA;

thank you,
Erich

 

[ny8wolf]

Where's the 127.2 at?

 

[erich]

Usd/chf

127,2% expansion of XA of bearish butterfly (monthly) USD/CHF chart: at 0,89

greetings, Erich

 

[Sive Morten]

hi Sive,

thanks for your reliable analyses on EUR/USD!!!

Sive, please could you give us a comment on USD/CHF - the daily chart forms a bearish Gartley, the second in a row; maybe could it be the initial signal to finish the 127,2% expansion of the monthly butterfly?
by the way, USD/JPY shows similar price action; the monthly butterfly (since 2000) finished 161,8% expansion of XA;

thank you,
Erich

Hi Erich, sorry for delay,
you're absolutely right about CHF Butterfly - we've talked about it in some researches previously. I suppose it should reach 1.27 because CD sell-off is faster and there are nice downbars...