Wednesday, 25 November 2015

Technical analysis of EUR/USD for November 25

Euro/dollar made another indecisive movement yesterday, forming another doji on the daily chart, as you can see below. Trade signals are neutral for now. We don't see bullish doji formation, but two consecutive doji after a downtrend suggest exhaustion of the bears and a bullish reversal, especially if the price is able to make a clear break above the trend line resistance (localized at 1.0725), as seen on the hourly chart, to test 1.0800 or higher. On the downside, we need a clear break below 1.0592 for the continuation of the bearish scenario targeting near 1.0500.


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