EURUSD Bearish Harami 4-Hour Chart
Resistance: 1.3045 moderate/1.3121 minor/1.3184 minor
Support: 1.2982 strong/1.2905 moderate/1.2843 minor
Market appears to have a bullish bias in EURUSD with Bearish Harami well resisted by 1.3045. Given that we have a low level bearish reversal pattern it would be best to look for a confirming black candlestick before jumping short. Stop loss should also be placed just above 1.3045 while the price target is 1.2982, possibly on to 1.2905 if the former breaks. The pattern high may also be used as a stop loss area.
USDCHF Bullish Harami 4-Hour Chart
Resistance: 0.9317 strong/0.9371 moderate/0.9410 minor
Support: 0.9277 moderate/0.9223 minor/0.9184 minor
USDCHF is in a bear market with the low level bullish candlestick pattern Bullish Harami suggesting we look for a turn-around. Consider buys off the immediate support 0.9277, or on a bullish confirmation from the subsequent candlestick. A stop loss should be placed just below 0.9277 while the immediate target is 0.9317, the Pivot Point. A close above 0.9317 will have us looking for a rally to 0.9371.
GBPUSD Bearish Harami 4-Hour Chart
Resistance: 1.6318 minor
Support: 1.6277 minor/1.6245 moderate/1.6204 strong
GBPUSD is in a bullish market though prices look overextended. 4-Hour charts show a low level bearish reversal candlestick pattern Bearish Harami. Given where prices are now the preferred course of action is to remain sidelined and skip on the trade. Any attempt at a correction would likely be limited to 1.6277.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices