Home EUR/USD Price Analysis: Thursday’s high is the key resistance
FXStreet News

EUR/USD Price Analysis: Thursday’s high is the key resistance

FX Street
Updated:
  • EUR/USD created a Doji candle on Thursday, indicating indecision. 
  • A close above Thursday’s high would revive the bullish bias. 

EUR/USD is currently sidelined near 1.1914, having created the indecisive Doji candle on Thursday. 

The Doji comprises long upper wicks and a small body, implying indecision in the market place. Thursday’s Doji has neutralized the immediate bullish setup and made Friday’s close pivotal. 

A close above the Doji candle’s high of 1.1914 would mean the period of indecision has ended with a bull victory and allow a continuation of the rally from weekly lows near 1.18. 

Alternatively, acceptance under Thursday’s low of 1.1885 would confirm a bearish Doji reversal pattern and expose deeper support levels. 

Daily chart

Trend: Bullish above 1.1841

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.

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision.  The information on this website is general in nature, so you must consider the information in light of your objectives, financial situation and needs. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. Crypto promotions on this site do not comply with the UK Financial Promotions Regime and is not intended for UK consumers. This website is free for you to use but we may receive a commission from the companies we feature on this site.

© forexcrunch.com All Rights Reserved 2017 – 2024