Indicators: ExCandles2 - page 3

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EUR/USD Eyes 1.3780 As Candlesticks Suggest Bears In Control
  • EUR/USD Technical Strategy: Shorts Preferred
  • Long upper wick on daily candle highlights significant selling pressure
  • Bearish Engulfing pattern on four hour chart foreshadowed intraday dip
EUR/USDhas plunged after failing to claim the psychologically-significant 1.4000 handle in recent trading. The intraday volatility has failed to yield a classic candlestick reversal pattern. However, the length of the upper wick and body of the daily candle suggests the bears are in control of prices. This opens up further declines towards the next noteworthy level of support at 1.3780.

EUR/USD: Eyeing 1.3780 As Bears Take Control



A Bearish Engulfing pattern near 1.3950 offered an intraday signal that declines were on the way for the Euro. While the Asian session has yielded a couple of Doji formations which hints at some hesitation from the bears, they are not enough to suggest a bounce at this stage.

EUR/USD: Bearish Engulfing Pattern Sparks Intraday Dip

 

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newdigital, 2014.05.13 12:13

USD/JPY Clears 102.00 As Harami Suggests Further Gains

  • USD/JPY Technical Strategy: Longs Preferred
  • Push back above 120.00 opens 102.70
  • Harami pattern supports further gains
USD/JPY’s push past 102.00 following the Harami formation on the daily puts the next noteworthy resistance level at 102.70 on the cards. The absence of a bearish signal on the daily and four hour charts gives little indication of a potential intraday reversal.

USD/JPY: Prices Push Past 102.00 Following Harami Pattern



An examination of intraday price action on the chart below highlights the hesitation from the bulls near 102.00. However following a push past the psychologically-significant level of resistance USD/JPY is eying the 102.70 mark.

USD/JPY: Hammer Foreshadowed Recovery



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