The price has continued to look bearish since then, being held down by another bearish trend line shown in the price chart below which has had three touches. There are many resistance levels piling down on top of the price, and the short-term price action also looks bearish, in line with the long-term trend. For all these reasons, I have a bearish bias today, but...
Intraday target: 6378
EUR/USD: Daily perspective: The support area at 1.1479-1.1583 is still in play. Thursday’s movement chalked up a reasonably strong bullish rotation candle, though Friday’s action formed a concerning indecision formation off local resistance circling the 1.1530 area. H4 perspective: Friday’s non-farm payrolls rose 134k in September, below the expected 185k....
What is a 'Bullish Outside Bar' A bullish engulfing pattern is a candlestick chart pattern that forms when a small black candlestick, showing a bearish trend, is followed the next day by a large white candlestick, showing a bullish trend, the body of which completely overlaps or engulfs the body of the previous day’s candlestick. Breaking Down 'Bullish Engulfing...
What is an Inside Bar ? The inside bar is a two bar candlestick pattern, which indicates price consolidation. In order to confirm this pattern you need to see a candle on the chart, which is fully contained within the previous bar. In this manner, the inside bar candle should have a higher low and a lower high than the previous candle on the chart. The Inside...
Intraday target: 6378
EUR/USD: Yesterday EUR/USD tested H4 resistance at 1.1540 with a spike so at the end of H4 we get a bearish pinbar trade, this mean that we have still a lot of sellers here. We are looking for potential short opportunity from 1.1515 with a potential target at 1.1432 with stop loss around 1.1600. Today are very important news on the board so trade careful and don't...
Intraday target: 6378