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Jul 11 - 05:55 AM

EUR/USD - Bears Should Beware Of The "Hammer" On The Daily Chart

By Martin Miller  —  Jul 11 - 03:50 AM
  • EUR/USD, on Friday, left hammer: a bullish reversal candlestick pattern

  • A hammer is one candle that has a small body and long lower shadow

  • It usually appears at the bottom of a downtrend as a warning of a base

  • A recovery will be thwarted if spot drops under Fri's 1.0072 EBS low

  • And the path to parity would be reopened for an imminent retest

  • EUR/USD Trader TGM2334. Previous EUR/USD update nL1N2YO0BJ

Source:
Refinitiv IFR Research/Market Commentary

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