29 Nov 2016
EUR/JPY bears are taking control
An evening star pattern has been highlighted on the EUR/JPY daily chart.
It happens when the price stagnates after an upward trend and does so in form of a small bodied candle, preceding a third candle which closes well below the body of the second candle and deeply into the first candle's body.
This candlestick pattern generally indicates that confidence in the current bullish trend (RSI above 50) has eroded and that bears are taking control.
It happens when the price stagnates after an upward trend and does so in form of a small bodied candle, preceding a third candle which closes well below the body of the second candle and deeply into the first candle's body.
This candlestick pattern generally indicates that confidence in the current bullish trend (RSI above 50) has eroded and that bears are taking control.