EUR/USD Inverted hammer - Trend reversal imminent
Hello traders,
after two weeks of almost free fall, this friday an inverted hammer has formed, which indicates that bulls are awakeing.
Technical: If monday a bullish candlestick will form, then we have a confirmation for the trend reversal.
Fundamentals: Most of the dollar gains throughout these two weeks happened on NY session. The economic calendar for monday indicates a US bank holiday.
If there will be no significant capital moves on the US on monday, the chances for a confirmation trend reversal bullish candlestick to form will be very high.
For short traders, it is definetelly the right time to close open orders and the right moment to buy.
after two weeks of almost free fall, this friday an inverted hammer has formed, which indicates that bulls are awakeing.
Technical: If monday a bullish candlestick will form, then we have a confirmation for the trend reversal.
Fundamentals: Most of the dollar gains throughout these two weeks happened on NY session. The economic calendar for monday indicates a US bank holiday.
If there will be no significant capital moves on the US on monday, the chances for a confirmation trend reversal bullish candlestick to form will be very high.
For short traders, it is definetelly the right time to close open orders and the right moment to buy.
Comment:
Another very important factor is the measured amplitude which shows EUR/USD is in the right place for a trend shift.