fxtrends
Long

Bull hammer signals pause in downtrend

FX:EURUSD   Euro Fx/U.S. Dollar
504 3 3
It appears that the Euro             decline has come to an end....at least for a few days! With weekly chart RSI at record oversold levels, the appearance of a daily bull hammer should signal a basing phase or the setup of an accumulation pattern. Moreover, daily RSI has come off a base and is now showing positive divergence. This is occurring while the top end of price action and RSI are both coiling, which are characteristics of a imminent trend reversal. If, however, there's a lack of follow through strength on Friday, then all bets are off. Otherwise a move to 1.2858 at the minimum is forecasted over the next few days.
fibline PRO
2 years ago
Look left. A reversal "Hammer" in a major downtrend is what the "pros" want you to believe. Observation only.
Reply
fibline PRO
2 years ago
How many prior "Bull Hammers " Failed? Look left to be right.
Reply
Reversing this kind of trend with a hammer??? Nope, never
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out