EUR/USD Price Analysis: Pullback over?

  • EUR/USD’s is trading near 1.1847 versus Thursday’s low of 1.1789. 
  • Thursday’s candle suggests the pullback from recent highs may be over. 

EUR/USD created a classic long-tailed Doji candle on Thursday, as it printed a low of 1.1789 but ended the day on a flat note 1.1851. 

The long lower wick indicates seller exhaustion and suggests an end of the corrective pullback from recent highs above 1.20. 

A sustained move above 1.1865 (Thursday’s high) would confirm a bullish Doji reversal and could yield a move toward 1.19. 

On the flip side, a daily close below 1.1789 – the low of Thursday’s long-tailed Doji – would imply a continuation of the pullback from 1.20 and expose support at 1.1696 (Aug. 3 low). 

Daily chart

Trend: Neutral

Technical levels

 

Join the Discussion

Your email address will not be published. Required fields are marked *

Back to top