We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
EUR/USD Harami Near Critical Resistance Hints At A Reversal

EUR/USD Harami Near Critical Resistance Hints At A Reversal

2014-07-02 10:57:00
David de Ferranti, Currency Analyst
Share:

Talking Points

  • EUR/USD Technical Strategy: Shorts Preferred
  • Harami paves way for retreat to 1.3600
  • Dojidemonstrated indecision amongst traders near 1.3700

EUR/USD may be primed for a pullback following a Harami pattern on the daily near noteworthy resistance at 1.3700. Confirmation from a second successive down-day would help validate the signal and open a decline to former resistance-turned-support at 1.3590.

EUR/USD: Harami Hints At Retreat

EUR/USD Harami Near Critical Resistance Hints At A Reversal

Daily Chart - Created Using FXCM Marketscope 2.0

Drilling down to the four hour chart; a Doji candlestick offered an indication of hesitation from the bulls following a knock on the psychologically-significant 1.3700 handle. While EUR/USD may have found support near 1.3650 in intraday trading, the absence of a bullish reversal pattern casts doubt on a recovery.

EUR/USD: Doji Highlights Hesitation Near Key Level

EUR/USD Harami Near Critical Resistance Hints At A Reversal

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, DailyFX

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.