There are simple as well as complex candlestick patterns. There are single stick, two stick as well as three stick candlestick patterns. Harami is a two stick candlestick pattern. Two stick patterns take two days to form on daily charts. A Harami is formed whent the first day candle is longer than the second day candle. Harami can be bullish as well as bearish!
There are many candlestick trend reversal and trend continuation patterns. These candlestick patterns can help you confirm a trend reversal or a trend continuation. Inverted Hammer Candlestick Pattern is an important trend reversal pattern that can give accurate signal on trend reversal. However, this pattern occurs rarely but when it does, it means that the trend will reverse itself soon.
British Pound May Remain Under Pressure Ahead of BoE Rate Decision Fundamental Outlook for British Pound: Bearish -?U.K. 1Q GDP Contracted By 2.4% as the final reading was revised lower from the preliminary -1.9% -?The June U.K. manufacturing PMI reading rose to 47.0 from 45.4, which was the highest since May 2008 -?UK PMI Services fell in June to 51.5 from 51.7, diming recovery hopes The British Pound was derailed mid-week by a larger than expected contraction in 1Q GDP of 2.4% which saw the GBP/USD fall over 400 pips from its high of 1.6746.
The European Central Bank pumped into the banking system a record €442.24 billion in 12-month loans at a rate of 1.0% in an effort to restore the flow…
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New Zealand Dollar Could Fall If Q1 GDP Results Lead to Shift in Rate Expectations
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FX Carry Trades Retrace Early Gains as US Equities Show Negative Response to FOMC Statement
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Euro Surges Against the Swiss Franc on SNB Intervention, But Slumps Against the Rest of the Majors
U.S. stocks were set for a slightly lower open Tuesday, as jitters about the banking sector offset Texas Instruments’ profit-target boost
Currency trading used to be for big banks and institutional investors only - not anymore Su Keenan of Bloomberg News has the details. (Bloomberg News)
