EUR/USD Reversal Pattern – January 22, 2014
EUR/USD’s recent selloff might soon be over, as the pair formed a double bottom on its 1-hour time frame.
EUR/USD’s recent selloff might soon be over, as the pair formed a double bottom on its 1-hour time frame.
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This signal brought to by CAMS
This signal brought to by CAMS
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If equity bears are having a tough time at present, euro bears have had a torrid time over the last few years, with each move lower acclaimed as the end of the single currency, which then promptly rises and continues to survive.
The EUR/USD pair went back and forth on Tuesday, ultimately settling into a slightly negative candle.
The EUR/GBP continued to struggle at the 0.8750 area once again yesterday, ending the trading session with a doji candle, sending a clear signal of indecision at this level, which has been duly validated in this morning’s early trading session, with the pair retreating lower, and moving back below the 0.8700 region at the time of writing.
The U.S. Dollar is trading higher against the Japanese Yen during the mid-morning U.S. session going into the weekend.
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