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EUR/USD Keeps Traders In Suspense As A Harami Awaits Confirmation

EUR/USD Keeps Traders In Suspense As A Harami Awaits Confirmation

2014-09-23 06:28:00
David de Ferranti, Currency Analyst
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Talking Points

  • EUR/USD Technical Strategy: Shorts Preferred
  • Bullish Candlestick Pattern Awaiting Confirmation
  • Spotlight On 1.2755 Following Close Below 1.2850

EUR/USD remains at a critical juncture as it probes above former support-turned-resistance at 1.2850 with a Harami pattern in its wake. At this stage the bullish reversal formation awaits confirmation, which leaves the immediate risk skewed to the downside. A daily close back above the 1.2850 barrier would be required to negate a near-term bearish technical bias.

EUR/USD: Eyes 1.2755 Following Clearance Of Range-Bottom

EUR/USD Keeps Traders In Suspense As A Harami Awaits Confirmation

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

The four hour chart tells a tale of indecision as the medley of short candles and Dojis continues. Buying interest appears to have been renewed in intraday trade at the 1.2820 mark. Yet within a void of key reversal signals a recovery over the session ahead is questionable.

EUR/USD: Intraday Recovery Questionable Amid Void of Bullish Patterns

EUR/USD Keeps Traders In Suspense As A Harami Awaits Confirmation

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

By David de Ferranti, Currency Analyst, DailyFX

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