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EUR/USD Intraday Drop Heralded By Harami Candlestick Pattern

EUR/USD Intraday Drop Heralded By Harami Candlestick Pattern

2014-06-26 10:57:00
David de Ferranti, Currency Analyst
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Talking Points

  • EUR/USD Technical Strategy: Sidelines Preferred
  • Dojidemonstrates indecision amongst traders near 1.3600
  • Haramion four hour chart yielded intraday dip

EUR/USD traders remain indecisive near the critical 1.3600 handle, as denoted by a Dojicandlestick on the daily. However, with a bearish reversal pattern absent, a complete shift in sentiment looks doubtful. A correction is likely to be met by buying support at 1.3600.

EUR/USD: Doji Suggests Indecision Near 1.3600

EUR/USD Intraday Drop Heralded By Harami Candlestick Pattern

Daily Chart - Created Using FXCM Marketscope 2.0

Drilling down to the four hour chart; a Harami candlestick pattern hinted at an intraday dip for EUR/USD, after the pair failed to breach the 1.3665 mark. However, with support resting nearby, the extent of further declines may be limited.

EUR/USD: Harami Prompts Intraday Dip

EUR/USD Intraday Drop Heralded By Harami Candlestick Pattern

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, DailyFX

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