With USA (Memorial Day) and UK (Spring Bank Holiday) market closed for holiday, low liquidity is expected for the today market. Nevertheless, here is the foreacast:
Based on Daily Candlestick on 23 May (Friday)
USDCHF
- Last Engulfing Bearish: Possible bottom. This is considered a reversal pattern that might indicate a bottom. Look for higher opening to buy. + Oversold.
- Bearish Trending Candle takes over: Bearish continuation.
PREVIOUS CANDLE STICK SIGNAL - Bullish Harami line: “Inside Day”, wait for next signal and look for reversal.
USDJPY
- Bearish Harami Line: Indecision in market. “Inside Day”, wait for next signal/confirmation and look for reversal.
PREVIOUS CANDLE STICK SIGNAL - signalling a bullish reversal: buy signal.
EURUSD
- Engulfing Bullish Line Continuation: suggest market is overbought. Look to cover long position.
- Stochastic oscillator also suggests overbought.
PREVIOUS CANDLE STICK SIGNAL - Bearish Harami line: Indecision in market – look for reversal + Overbought
GBPUSD
- White Doji Line: possible reversal + OVerbought
PREVIOUS CANDLE STICK SIGNAL - Bullish Harami line: Market is overbought. Suggesting the bullish trend is weaking.
Based on Daily Candlestick on 23 May (Friday)
USDCHF
- Last Engulfing Bearish: Possible bottom. This is considered a reversal pattern that might indicate a bottom. Look for higher opening to buy. + Oversold.
- Bearish Trending Candle takes over: Bearish continuation.
PREVIOUS CANDLE STICK SIGNAL - Bullish Harami line: “Inside Day”, wait for next signal and look for reversal.
USDJPY
- Bearish Harami Line: Indecision in market. “Inside Day”, wait for next signal/confirmation and look for reversal.
PREVIOUS CANDLE STICK SIGNAL - signalling a bullish reversal: buy signal.
EURUSD
- Engulfing Bullish Line Continuation: suggest market is overbought. Look to cover long position.
- Stochastic oscillator also suggests overbought.
PREVIOUS CANDLE STICK SIGNAL - Bearish Harami line: Indecision in market – look for reversal + Overbought
GBPUSD
- White Doji Line: possible reversal + OVerbought
PREVIOUS CANDLE STICK SIGNAL - Bullish Harami line: Market is overbought. Suggesting the bullish trend is weaking.