EUR/USD Shooting Star Opens Further Declines
Dailyfx | Jun 23, 2014 07:25AM ET
Talking Points
- EUR/USDTechnical Strategy: Sidelines Preferred
- Shooting Star suggests potential for a pullback
- Daily close below 1.3600 to open 1.3500 handle
The EUR/USD has been quick to give back its recent gains, which has prompted the emergence of a Shooting Star candlestick. A daily close back below 1.3600 would signal enough conviction amongst traders to open the psychologically-significant 1.3500 level.
EUR/USD: Shooting Star Opens Further Declines
A Harami pattern on the four hour chart indicated the potential for a bounce in recent trading. However, given the signals provided the daily, the extent of a further recovery may be limited.
EUR/USD: Harami Signaled Intraday Bounce Ahead
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