EUR/USD ended this Thursday virtually unchanged as the daily bar formed a doji, signaling indecision on both sides. After a doji, the market usually follows the path of least resistance. Since the week has seen lower highs and lower lows, odds favor a bearish continuation. Earlier in the American session, the weak run up (blue wedge) was not strong enough to break the 1.1700 figure. This was the second attempt on Thursday to break above the figure. As a reminder 1.1700 was support earlier in the week and it has now become resistance. What would negate the bearish scenario is a strong breakout above the 1.1700 level and a sustained follow-through above 1.1740, the open of the week. EUR/USD 15-minute chart Spot rate: 1.1671 Relative change: -0.03% High: 1.1696 Low: 1.1649 Trend: Bearish Resistance 1: 1.1700 figure Resistance 2: 1.1720-1.1730-1.1740 area, June 26 high, 23.6% Fibonacci retracement from mid-April-May bear move and weekly open. Resistance 3: 1.1775 supply level Resistance 4: 1.1800 figure Resistance 5: 1.1851-1.1854 area, June high and 38.2% Fibonacci retracement from mid-April-May bear move Support 1: 1.1672 June 27 high Support 2: 1.1640 supply/demand level Support 3: 1.1600 figure Support 4: 1.1560 June 14 low Support 5: 1.1508 current 2018 low EUR/USD daily chart A rather flat daily 21-period simple moving average is currently containing the price. 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 NZD/USD: taking on the 10-D SMA in better risk environment FX Street 5 years EUR/USD ended this Thursday virtually unchanged as the daily bar formed a doji, signaling indecision on both sides. After a doji, the market usually follows the path of least resistance. Since the week has seen lower highs and lower lows, odds favor a bearish continuation. Earlier in the American session, the weak run up (blue wedge) was not strong enough to break the 1.1700 figure. This was the second attempt on Thursday to break above the figure. As a reminder 1.1700 was support earlier in the week and it has now become resistance. What would negate the bearish scenario… 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.
