EUR/USD Daily Video, July 29, 2015

[Sive Morten]

Good morning,

EUR still keeps our trading plan and turns to downward retracement. So let's keep watching over 1.0970-1.10 area:




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.

 

[Dave Hanson]

Sive, in this EUR video you mention the Canadian dollar. In your July 20 video you predicted the current USD retracement down (and CAD retracement up). I think you said you see the USD falling to about 1.2770-1.28 (and thus loonie retracing up to 7812-7830). You mentioned in this EUR video that you are waiting for a good entry point to go long the USD versus CAD. Do you still believe it will be in the 1.2770-1.28 range?

 

[Sive Morten]

Sive, in this EUR video you mention the Canadian dollar. In your July 20 video you predicted the current USD retracement down (and CAD retracement up). I think you said you see the USD falling to about 1.2770-1.28 (and thus loonie retracing up to 7812-7830). You mentioned in this EUR video that you are waiting for a good entry point to go long the USD versus CAD. Do you still believe it will be in the 1.2770-1.28 range?

Well, Dave
Actually I'm not sure. It seems logical to re-test 1.28 former top, but at the same time CAD is moving inside upside channel and it already has reached lower border. Still I think it would be better rely on butterfly pattern and its minimum retracement down - market has not done it yet.