Forex Strategy: EUR/USD Reversal Plays Out Post Hammer Formation

| 28 februari, 2014 | 0 kommentarer

To receive David’sanalysis directly via email, please SIGN UP HERE

Talking Points

  • EUR/USD Technical Strategy: Waiting for clearance of 1.3700
  • Hammer played out with bullish advance in US trading
  • Break of 1.3700 may see buying support emerge at 1.3650 level

EUR/USD is once again flirting with the psychologically significant 1.3700 figure in intraday trade. The pair’s recovery during the US session overnight was signaled by a bullish reversal Hammer candle formation on the hourly chart as noted in the most recent candlesticks report.

While some of the recent gains have been eroded in Asian trading there is an absence of a bearish candlestick formation which obfuscates a bearish bias for the common currency. A close below the 1.3700 mark may open up further declines towards buying support at 1.3650.

Confirm your chart-based trade setups with the Technical Analyzer.

Forex_Strategy_EURUSD_Reversal_Plays_Out_Post_Hammer_Formation__body_Picture_1.png, Forex Strategy: EUR/USD Reversal Plays Out Post Hammer Formation

Hourly Chart – Created Using FXCM Marketscope 2.0

— Written by David de Ferranti, Market Analyst, FXCM

Contact and follow David on Twitter: @Davidde

New to FX? START HERE

For live market updates, visit the Real Time News Feed

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *