EUR/USD Awaiting Reversal Pattern Near 1.2500 To Signal A Turn
Dailyfx | Nov 27, 2014 02:25AM ET
Talking Points
- Strategy:Short (From 1.2480), Stop: 1.2500 (Daily Close), Target 1: 1.2360, Target 2: 1.2250
- Slow Grind Higher Encounters Pressure At 1.2500 Barrier
- Awaiting Bearish Signals In Intraday Trade To Signal A Pullback
EUR/USD’s slow grind higher has endured, yet a lack of key bullish reversal patterns makes a more sustained recovery questionable. Sellers may look to keep the pair capped below the psychologically-significant 1.2500 handle. This in turn suggests current levels may offer a fresh short opportunity. An initial downside target is offered by the 1.2360 floor, which if broken would potentially open a run on the 1.2250 mark.
EUR/USD : Rebound May Struggle To Find Further Momentum
The four hour chart already reveals signs of hesitation from the bulls in the form of a Doji candlestick near the 1.2500 handle. Yet with more definitive reversal signals absent the potential for a pullback is questionable.
EUR/USD: Doji Signals Reluctance From The Bulls Near 1.2500
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.