5 Min Chart
Risk-off sentiment was prevalent on Monday Morning, bringing EUR/USD lower. Price suddenly surged higher during Europe Pre-Market hours, but fell back quickly below 1.2975 resistance, forming an Evening Star candlestick pattern in the process.
Hourly Chart
From the Hourly Chart, bullish momentum does not appear to be slowing down with price bouncing off L3 and the rising trendline with ease. However, 1.299 – 1.30 continues to act as overhead resistance, potentially forming an upward triangle should price continue to respect the upward trendline.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015