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EUR/USD Indecision Persists As Signaled By Dojis On The Daily

EUR/USD Indecision Persists As Signaled By Dojis On The Daily

2014-11-21 03:00:00
David de Ferranti, Currency Analyst
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Talking Points

  • Strategy:Flat
  • Indecision Persists As Signaled By Dojis On The Daily
  • Doji On H4 Suggests Traders Lacking Inspiration

EUR/USD continues to hover above the 1.2500 barrier with a pair of Dojis suggesting traders remain indecisive on the pair. While a medium-term downtrend is in force, the recent choppiness leaves much to be desired. A more constructive setup is awaited before offering a fresh positioning bias.

EUR/USD: Indecision Continues Near 1.2500 Handle

EUR/USD Indecision Persists As Signaled By Dojis On The Daily

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

The four hour chart suggests traders are yet to be inspired, given the sign of hesitation offered by a recent set of Doji formations. Yet with the 1.2565 resistance region nearby the pair may remain under pressure over the session ahead.

EUR/USD: Doji Suggests Traders Uninspired In Intraday Trade

EUR/USD Indecision Persists As Signaled By Dojis On The Daily

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

By David de Ferranti, Currency Analyst, DailyFX

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