News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
EUR/USD Doji Suggests Hesitation From The Bulls Near 1.3900

EUR/USD Doji Suggests Hesitation From The Bulls Near 1.3900

David de Ferranti, Currency Analyst

Talking Points

  • EUR/USD Technical Strategy: Shorts Preferred
  • Doji suggests hesitation from the bulls near the critical 1.3900 handle
  • Bears returned in intraday trade post a Dark Cloud Cover formation

EUR/USD’s consolidation between 1.3780 and 1.3900 has persisted with the most recent pullback from the range-top prompting the formation of a Dojicandlestick. The formation suggests signs of indecision from traders and the potential for a pull-back towards the range-bottom.

Traders should be mindful of the potential for a surprise US Non-Farm Payrolls reading in the coming hours to spark significant volatility for US Dollar based pairs. The release of the figures will be covered live in DailyFX Plus.

EUR/USD: Prices Hold Below 1.3900 Following Doji Candlestick

EUR/USD Doji Suggests Hesitation From The Bulls Near 1.3900

Daily Chart - Created Using FXCM Marketscope 2.0

The recent retracement for EUR/USD was foreshadowed by a Dark Cloud Cover pattern in intraday trade. The signal suggests the potential for an extended pullback towards the 1.3785 mark.

EUR/USD: Gives Back Gains Following Dark Cloud Cover Pattern

EUR/USD Doji Suggests Hesitation From The Bulls Near 1.3900

4 Hour Chart - Created Using FXCM Marketscope 2.0

By David de Ferranti, Market Analyst, FXCM

Follow David on Twitter: @Davidde

To receive David’s analysis directly via email, please sign up here.

Learn how to read candlesticks to help identify trading opportunities with the DailyFX Candlesticks Video Course.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES