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
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
4 Hour Chart - Created Using FXCM Marketscope 2.0, Volume Indicator Available Here
By David de Ferranti, Currency Analyst, DailyFX
Follow David on Twitter: @DaviddeFe
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.
original source
