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After trading below October's low and to as low as 1.15, EUR/USD bounced strongly, leaving a hammer on the weekly chart. Not out of the woods yet but convincingly trading above 1.175 - 1.18 would probably mean that a more significant low was put in place.
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Loonie all over the charts
Loonie produced a couple of volatile whipsaws last week. It sold off 100 pips on the FOMC but recouped those losses in the next hour. On Friday morning it fell more than 150 pips, broke FOMC low and traded down to almost 1.30. That fall was then completely reversed and some on Friday afternoon.
The pair posted a hammer-like outside day candle on the daily chart and a hammer on the weekly chart, but validity of these reversal patterns in a broadly ranging environment is questionable. The pair app…
The pair posted a hammer-like outside day candle on the daily chart and a hammer on the weekly chart, but validity of these reversal patterns in a broadly ranging environment is questionable. The pair app…