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Daily Technical Analysis – 25 November 2013
EURUSD The euro is looking bearish again this week, having failed to break back above the ascending wedge. Even the weekly chart is looking a little bearish, with last week’s candle being a hanging man, signalling a trend reversal. It is worth noting that this is not a perfect hanging man. The body is a little big, the lower wick could be a little longer and the body is green, but it is still valid, just about. As it’s not perfect, I wouldn’t base too much on it though, I would just use it as more of an indication of future price action. The daily and 4-hour charts look a lot more bearish. Following the break ... (full story)