Candlestick patterns come in many forms and they have the power to turn market direction. They are usually made up of two or three candlesticks but always require confirmations if they are to be used in a trade. Candlestick patterns allow us to get into a trade early but this can only be achieved if the correct analysis is utilised. Never simply rely on the candlesticks themselves because they can provide a fake picture of the current market situation. Below is a list of candlestick patterns you are required to know, so ensure that you watch all the Forex training videos.
Recent price action in AUDUSD brings the monthly-high (0.7022) on the radar as the exchange rate extends the series of higher highs and lows from the previous week.
Gold prices target August 2013 highs as US recession fears rise and local bond yields tumble. The GBPUSD is aiming lower as Boris Johnson comments on Brexit ahead of the APAC session.
Micron Technology (MU) is slated to report earnings Tuesday afternoon but the ongoing US-China trade war has cast a shadow over the company’s share price and outlook for the coming quarters.