EUR/USD Daily Video, March 29, 2018

[Sive Morten]

Good morning,

EUR has broken important 1.2350 support level while daily bullish setup has not been destroyed totally yet. Now the only one major level stands - 1.2277. So, our attention will stick with it whether any reversal setup will be formed there:



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.

 

[OutsidetheBoxHK]

Hi Sive
I'm a new follower of your excellent technical analysis videos.
Can you explain for me what XOP and COP are? I have never heard these terms before. Seems like a Fibonacci, Elliott Wave, or some other established pattern type of terminology. Thanks

 

[Venelin]

Hi Sive
I'm a new follower of your excellent technical analysis videos.
Can you explain for me what XOP and COP are? I have never heard these terms before. Seems like a Fibonacci, Elliott Wave, or some other established pattern type of terminology. Thanks

Hi, COP=contracted objective point=61.8% fib expansion; OP=objective point=100% fib.expansion (AB=CD) ; XOP=extended OP=161.8% fib.ex.

 

[Sive Morten]

Hi Sive
I'm a new follower of your excellent technical analysis videos.
Can you explain for me what XOP and COP are? I have never heard these terms before. Seems like a Fibonacci, Elliott Wave, or some other established pattern type of terminology. Thanks

Hi, COP=contracted objective point=61.8% fib expansion; OP=objective point=100% fib.expansion (AB=CD) ; XOP=extended OP=161.8% fib.ex.

Hi, yes, Venelin is right - this is Fibonacci extension tool using DiNapoli terminology.
Here, on FPA site we have educational course and there you could find explanation almost on any tool that we use here. Particular speaking, here is chapter on Fib extensions:
https://www.forexpeacearmy.com/community/threads/chapter-10-part-vii-fibonacci-extensions.15818/