EUR/USD created a Doji candle on Thursday, signaling indecision. Other daily chart studies continue to call a bearish move. EUR/USD carved out a Doji candle on Thursday as it witnessed two-way business and ended the day on a flat note. A Doji candle represents indecision. However, in this case, the candle has appeared at two-month lows. As such, one may take it to represent seller exhaustion and adopt a neutral stance. However, other chart studies remain biased bearish. For instance, the 5- and 10-day simple moving averages (SMA) continue to trend south, and the 14-day relative strength index is hovering below 50. The head-and-shoulders breakdown confirmed earlier this week remains valid, and the pair remains below the former support-turned-resistance at 1.1696 (Aug. 3 low). As such, the odds remain stacked in favor of deeper declines. Key support levels are located at 1.1626 (Thursday’s low) and 1.1495 (March 9 high). Meanwhile, resistance is seen at 1.1696 (Aug. 3 low) and 1.1768 (10-day SMA). Daily chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY bulls testing critical resistance to avail FX Street 2 years EUR/USD created a Doji candle on Thursday, signaling indecision. Other daily chart studies continue to call a bearish move. EUR/USD carved out a Doji candle on Thursday as it witnessed two-way business and ended the day on a flat note. A Doji candle represents indecision. However, in this case, the candle has appeared at two-month lows. As such, one may take it to represent seller exhaustion and adopt a neutral stance. However, other chart studies remain biased bearish. For instance, the 5- and 10-day simple moving averages (SMA) continue to trend south, and the 14-day relative strength index is hovering… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
