Candlestick Summary
| Symbol | Trend Bias | Time Frame | Candlestick Formation | Candle Bias | Chart Links |
|---|---|---|---|---|---|
| EUR/USD | bearish | daily | THREE INSIDE DOWN | bearish | View Chart |
| USD/JPY | neutral | daily | HAMMER | bullish | View Chart |
| GBP/USD | bearish | daily | HARAMI | bearish | View Chart |
| AUD/USD | neutral | daily | SHOOTING STAR | bearish | View Chart |
| USD/CAD | neutral | daily | View Chart | ||
| NZD/USD | neutral | daily | SHOOTING STAR | bearish | View Chart |
EURUSD: Profits Booked on Short Position
Strategy: Pending Short
Total Profit / Loss: +278 pips
We initially sold EURUSD at 1.3526. Prices overturned a bearish Three Inside Down candlestick pattern identified last week and broke above resistance at 1.3231, the late-November swing bottom and our revised stop-loss level. We will book our profits here and move to the sidelines, waiting for the next compelling opportunity to enter short. In fact, negative RSI divergence already warns of lackluster momentum behind the move higher. The next layer of significant resistance lines up at 1.3456.

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com
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