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.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
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
Gold
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
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • #Crypto update: $BTC -2% $BCH -3% $LTC -2.7% $XRP -2.9% $ETH -2%
  • President Trump: We're doing very well on #USMCA, hearing from unions that it is looking very good $USDCAD $USDMXN
  • US Dollar Returns to Resistance Ahead of CPI, FOMC https://www.dailyfx.com/forex/fundamental/article/drivers_of_price_action/2019/12/09/us-dollar-holds-key-resistance-ahead-of-cpi-fomc-usd-price-chart-js56.html https://t.co/tcJR97ZjxZ
  • Poll: Volatility levels are exceptionally low across the financial system and activity is mean reverting. Also worth noting volatility and risk assets (like the Dow) move inversely to each other. When do you think volatility will 'normalize' (likely explode, then settle higher)?
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Silver: 0.13% Oil - US Crude: 0.01% Gold: -0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/YiXXwwfBML
  • Senate Finance Committee Chairman Grassley spoke with USTR's Lighthizer on Monday about #USMCA and is hopeful a deal announcement can come soon $USDCAD $USDMXN
  • The #Dow Jones has rallied more than 25% in the year-to-date, easily recouping losses from last winter. Get your market update from @PeterHanksFX here:https://t.co/iwTMNbWq7S https://t.co/PWFYVH90i9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.95%, while traders in US 500 are at opposite extremes with 76.85%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XmQ5X9mG3U
  • I'm keeping this visual marker of the US-China December 15 deadline for the former increasing the tariff list on the latter if no deal is struck. $USDCNH https://t.co/ryK4BeXyCI
  • My fears of that impending December 15th tariff escalation are not soothed... https://t.co/3RLJx3mWDz
EUR/USD Further Falls Ahead In Absence of Reversal Candlesticks

EUR/USD Further Falls Ahead In Absence of Reversal Candlesticks

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

Talking Points

  • EUR/USD Technical Strategy: Shorts Preferred
  • Harami paved the way for a retreat to 1.3600
  • Bounce doubtful in absence of reversal patterns

EUR/USD weakness has persisted following the Harami pattern on the daily which helped herald a decline to 1.3590. A daily close below the support level would leave the pair exposed to a retreat to the 1.3500 handle.

EUR/USD: Harami Hinted At Weakness Ahead

EUR/USD Further Falls Ahead In Absence of Reversal Candlesticks

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

Drilling down to the four hour chart; while a Doji candlestick is evident, more notable reversal signals are absent for the Euro. This makes an intraday bounce for the currency appear doubtful.

EUR/USD: Reversal Signals Lacking In Intraday Trade

EUR/USD Further Falls Ahead In Absence of Reversal Candlesticks

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

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.