Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

EUR/USD Dark Cloud Cover Emerges On Retreat From 1.2755 Barrier

Published 10/15/2014, 03:00 AM
Updated 07/09/2023, 06:31 AM

Talking Points

  • EUR/USD Technical Strategy: Sidelines Preferred
  • Dark Cloud Cover Returns Near Range-Top
  • Range Between 1.2500 and 1.2755 Endures

EUR/USD’s pullback from the 1.2755 barrier has yielded another Dark Cloud Cover candlestick pattern. Yet some skepticism over the signal’s potential to generate a decline is warranted, given recent reversal formations have failed to find much follow-through. A breakout above the 1.2755 ceiling would pave the way for a potential push towards former support-turned-resistance at 1.2850. While in the alternative scenario, a close below the 1.2500 floor would be required to open the next leg lower to the late August 2012 low at 1.2250.

EUR/USD: Dark Cloud Cover Emerges Near 1.2755 Barrier

EUR/USD Daily Chart

A Harami on the four hour chart offered an early indication of a potential pullback for the euro. A void of bullish reversal patterns flags the potential for a continued retreat to buying interest at the 1.2605 mark.

EUR/USD: Harami Offered Warning Near Intraday Highs

EUR/USD 4 Hour Chart

Original post

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.