EUR/USD’s weekly chart candlestick pattern shows uptrend fatigue. The previous week’s low is the level to defend for the bulls. EUR/USD’s two weeks of indecisive price action may presage a short-term bearish reversal. The pair formed a second consecutive Doji candle on the weekly chart during the five days to Sept. 18. A Doji is usually taken to represent indecision in the market place. However, in this case, the back-to-back Doji candles have appeared following a notable rally from 1.08 to 1.2011. As such, they are indicative of buyer exhaustion. The lower highs on the weekly chart MACD histogram also suggest bull fatigue. Hence, a pullback may be seen in the short-term. Acceptance under last week’s low of 1.1737 would confirm a bullish-to-bearish trend change. On the higher side, a daily close above 1.20 is needed to restore the bullish bias. Daily chart Trend: Buyer fatigue 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 Nasdaq 100 net shorts highest since 2008 FX Street 1 year EUR/USD's weekly chart candlestick pattern shows uptrend fatigue. The previous week's low is the level to defend for the bulls. EUR/USD's two weeks of indecisive price action may presage a short-term bearish reversal. The pair formed a second consecutive Doji candle on the weekly chart during the five days to Sept. 18. A Doji is usually taken to represent indecision in the market place. However, in this case, the back-to-back Doji candles have appeared following a notable rally from 1.08 to 1.2011. As such, they are indicative of buyer exhaustion. The lower highs on the weekly chart MACD histogram also suggest… Top 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.
