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EUR/USD Awaiting Guidance From Candlestick Signals Near 1.3600

EUR/USD Awaiting Guidance From Candlestick Signals Near 1.3600

David de Ferranti, Currency Analyst

Talking Points

  • EUR/USD Technical Strategy: Sidelines Preferred
  • Shooting Star sees lackluster response casting doubt on correction
  • Harami candlestick in intraday trade offered hint at a bounce

EUR/USD continues to tease traders around the 1.3600 handle with candlestick formations offering little in the way of guidance on which way the pair could swing. The most recent notable candlestick, a Shooting Star formation has been met with little downside follow-through which casts doubt on the potential for a correction lower.

EUR/USD: Shooting Star Sees Lackluster Response

EUR/USD Awaiting Guidance From Candlestick Signals Near 1.3600

Daily Chart - Created Using FXCM Marketscope 2.0

A Harami pattern on the four hour chart indicated the potential for a bounce in recent trading. However, given the lack of clear technical signals provided the daily, the extent of a further recovery may be limited.

EUR/USD: Harami Signaled Intraday Bounce

EUR/USD Awaiting Guidance From Candlestick Signals Near 1.3600

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, DailyFX

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