Hammer Candlestick Chart Pattern The Hammer candlestick pattern is a popular single-bar formation used in technical analysis, signaling potential bullish reversals in the market. It is widely used by traders to identify the end of a downtrend and a...
The pair experienced modest declines during the North American session, reaching a three-week low of 1.3067 before bouncing back slightly. As traders anticipated the Federal Reserve's upcoming monetary policy decision, the pair regained some ground,...
United States: Jobs rise, rate cut expectations fall Nonfarm payrolls beat expectations and rose 254,000 in September. Upward revisions to data from the previous two months sweetened the overall gain and reversed a downward trend in hiring, while...
A Double Top pattern is a bearish reversal chart pattern that signals a potential change in market direction from an uptrend to a downtrend. It is one of the most widely recognized and reliable patterns in technical analysis. The Double Top forms...
Hammer candlestick pattern In a hammer candle, the opening, closing and high prices are located near each other creating a body at the top, while a long wick extends lower. The wick is usually twice as big as the body. Moreover, it can be helpful...