Here are the characteristics of the Hanging Man candlestick pattern, outlined point by point: 1. Formation at the end of an uptrend: The Hanging Man pattern typically occurs at the conclusion of an upward price trend, suggesting a potential reversal in the market. 2. Single candlestick: The pattern consists of a single candlestick on the…
Thursday is expected to be an eventful day in the financial markets, with several important reports and the European Central Bank (ECB) meeting taking place. Here is a summary of the key points: 1. Reports in the US: The US will release important reports on GDP and orders for durable goods. With a forecast of…
The Bearish Falling Three is a bearish candlestick pattern that typically forms during a downtrend and indicates a potential continuation of the downward move. It is considered a reliable pattern, especially when combined with other technical analysis tools and indicators. The Bearish Falling Three pattern consists of the following characteristics: 1. Existing Downtrend:…
EUR/USD: No Fed or ECB interest rate hikes in the near future? – The U.S. Dollar Index (DXY) has been trading sideways since the last days of September. – U.S. retail sales data for October showed a monthly increase of 0.7%, exceeding market forecasts. – The ZEW Economic Sentiment Index for the Eurozone rebounded to…
The British pound experienced a bearish close for the day, forming a black candlestick pattern. This pessimistic sentiment is attributed to the anticipation of the UK’s inflation data for September. The price of the pound pierced the embedded price channel support line, adding to the negative outlook. 1. Inflation Expectations: – The core Consumer Price…
Trading recommendations for the USD/JPY for October 17–18, 2023: sell below 149.51 (the symmetrical triangle that represents the 21 SMA). 1. Current Trading Conditions: Early in the European session, the USD/JPY pair is trading around 149.55. It is positioned above the 21-period Simple Moving Average (SMA) but below the 4/8 Murray level. 2. Symmetrical…
USDJPY, Daily 1. Bullish Momentum: The analysis suggests that USD/JPY is displaying bullish momentum within an ascending channel. This indicates that the price of the currency pair is generally trending higher. 2. 1st Support: The first support level is identified at 144.93. This level is aligned with the 38.20% Fibonacci Retracement, which is a…
In terms of new data inputs, mainly US numbers and, more specifically, job data, it was a big week for investors. We hope to continue where we left off this week with important data that is once again expected from the states. In addition, since new developments in Israel and Palestine make headlines every day,…
1. On the weekly chart, a reversal occurred after 11 consecutive black candles, with the reversal happening on the 9th reversal candle according to the Sequential indicator. 2. On the daily chart, a reversal was witnessed from the 9th candle, followed by an intermediate 10th candle, indicating the start of a new upward wave. 3….