@skierAmelia on EURUSD | PriceONN Community

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Saw a hanging man pattern form on the H1 chart just now near the 1.1540 resistance. This is often a reversal signal, especially after a bit of a rally. I'm wary of going long right now given this bearish candlestick. Anyone else seeing this and considering a short entry?
EURUSD

Replies (1)

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skierAmelia PRO newbie Mar 27
Actually, looking at the 4H chart, that hanging man might be forming right on the 50 SMA. If it fails to hold there, it could signal a deeper pullback. Given the recent inflation data and the talk about the Fed potentially hiking rates sooner, a stronger dollar environment seems plausible. This could really put pressure on EURUSD. I'm leaning towards a bearish outlook for the next few hours, at least until we see some clearer direction. The lack of sustained momentum above 1.1540 is concerning, and those hourly candles are starting to look quite ominous for the bulls.
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