An interesting setup on EURUSD that I thought was worth noting here: on the weekly chart, we're seeing an inverted hammer at resistance within a price channel.
When we look at the daily chart, we an evening star, also near resistance and coming off the top of a price channel.
Personally, I think this is an interesting counter-trend opportunity in the context of a rising price channel. A move down to the bottom of the channel near 1.10 seems a reasonable price target to me.
When we look at the daily chart, we an evening star, also near resistance and coming off the top of a price channel.
[bennathan[/bennathan]
Personally, I think this is an interesting counter-trend opportunity in the context of a rising price channel. A move down to the bottom of the channel near 1.10 seems a reasonable price target to me.
EURUSD Forms Reversal Candlestick at Top of Price Channel
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