Good morning traders,
Looking to change up our recent technical analysis examples this time with a clean trade on Euro versus Japanese Yen. The beat on Chinese gdp and Industrial production gave a risk on tone overnight leading to Yen weakening but also, for this pair, an Evening Star candle forming on the daily over the 15th and 16th. Evening star are early...
Yesterday, a beautiful evening star completed at a resistance level, which resulted in a distinctive swing low from July 2012. Also, the CCI turned again under the +100.
Only the volume does not play quite well because no increasing volume will be seen in the down move.
However, this formation was confirmed with lower prices than yesterday.