EUR/USD carved out a bullish hammer candlestick pattern on Thursday. The daily chart shows a bullish indicator divergence. EUR/USD is looking north, having charted a bullish reversal candlestick pattern on Thursday. The currency pair recovered sharply from the low of 1.1027 and closed the day with moderate gains, leaving a bullish hammer candle in its wake. That candle is widely considered a sign of bearish-to-bullish trend change, especially when it appears after a notable sell-off, which is the case here. Further, the moving average convergence divergence histogram on Thursday produced higher lows contradicting lower lows on the price chart (bullish divergence). That indicates seller exhaustion. Al-in-all, the stage looks set for the pair to rise above 1.11. A close above Thursday’s high of 1.1096 would confirm bullish hammer reversal. On the downside, the low of the hammer candle – 1.1027 – is the level to beat for the bears. Daily chart Trend: Bullish Pivot points FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CNH technical analysis: Bulls again aim for 6.98/99 area FX Street 4 years EUR/USD carved out a bullish hammer candlestick pattern on Thursday. The daily chart shows a bullish indicator divergence. EUR/USD is looking north, having charted a bullish reversal candlestick pattern on Thursday. The currency pair recovered sharply from the low of 1.1027 and closed the day with moderate gains, leaving a bullish hammer candle in its wake. That candle is widely considered a sign of bearish-to-bullish trend change, especially when it appears after a notable sell-off, which is the case here. Further, the moving average convergence divergence histogram on Thursday produced higher lows contradicting lower lows… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
