after two weeks of almost free fall, this friday an inverted hammer has formed, which indicates that bulls are awakeing.
Technical: If monday a bullish candlestick will form, then we have a confirmation for the trend reversal.
Fundamentals: Most of the dollar gains throughout these two weeks happened on NY session. The economic calendar for monday indicates a US bank holiday.
If there will be no significant capital moves on the US on monday, the chances for a confirmation trend reversal bullish candlestick to form will be very high.
For short traders, it is definetelly the right time to close open orders and the right moment to buy.
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Another very important factor is the measured amplitude which shows EUR/USD is in the right place for a trend shift.