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 Recovery Continues Following Doji Near Critical Support

EUR/USD Recovery Continues Following Doji Near Critical Support

David de Ferranti, Currency Analyst

Talking Points

  • EUR/USD Technical Strategy: Sidelines Preferred
  • Recovery continues post Doji on the daily
  • Correction doubtful in absence of reversal patterns

EUR/USD has staged a continued recovery following a Doji formation on the daily near support at 1.3590. With an absence of bearish reversal patterns the potential for a correction is questionable. Sellers will likely look to keep the pair capped below the psychologically-significant 1.3700 handle.

EUR/USD: Traders Targeting 1.3700 With Bearish Signals Missing

EUR/USD Recovery Continues Following Doji Near Critical Support

Daily Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

Intraday price action on the four hour chart reveals some signs of hesitation from traders signaled by a Doji candlestick near 1.3638. However, similarly to the daily, we are yet to see a key reversal pattern emerge.

EUR/USD: Doji Highlights Hesitation In Intraday Trade

EUR/USD Recovery Continues Following Doji Near Critical Support

4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here

By David de Ferranti, Market Analyst, DailyFX

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