Currency Analyst since 2010

EUR/USD: watch Japanese candles

SEB Bank: H1 there was an increasingly bearish wave pattern on Friday. On the daily chart we see bearish engulfing. On the weekly chart we see up-thrust top formation. “There should be an increasing downside risk. Additional bearish pieces of evidence will be posted breaking below $1.3462.”

TD Securities: “The soft weekly close is a threat to the EUR rally. The weekly candle signal is a weak-form “shooting star” signal at best but, combined with overbought stochastic signals which have also failed to confirm the latest rally and the overbought zone to the downside, price signals suggest bearish pressure may be building on EUR/USD.”

Chart. Weekly EUR/USD

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