EUR/USD Daily Video, July 04, 2013

[Sive Morten]

Good morning,
despite the holiday in US, market is moving and looks like our yesterday's assumption was correct:





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.

 

[toshaukr]

Should we consider EURUSD butterfly as failed, since market has broken through the 1.618?

 

[Sive Morten]

Should we consider EURUSD butterfly as failed, since market has broken through the 1.618?

Particular this butterfly has worked, since it has shown 3/8 retracement after 1.27 target. Our question was wether it will become a pattern that trigger upward move or not. Looks like it has not become the one.