EUR/USD Price Analysis: Euro looks south with Gravestone Doji on D1


  • EUR/USD trades lower in Asia, as dollar gains on risk-off. 
  • Thursday's bearish candlestick pattern favors a deeper decline.

EUR/USD is losing altitude in Friday's Asian session, having formed a "Gravestone Doji" – bearish candlestick pattern – on Thursday. 

A Gravestone Doji on the daily chart occurs when the bulls fail to keep gains at session highs, and bears end up pushing prices back to the daily opening price. EUR/USD clocked a high of 1.2243 on Thursday but closed flat at 1.2167, implying bull fatigue and warning of an impending reversal lower. 

The pair is now trading near 1.2142, representing a 0.2% drop on the day. 

The immediate support is seen at 1.2109 (Wednesday's low), which, if breached, would open the doors to 1.2023 (Feb. 17 low). On the higher side, a close above 1.2243 is needed to invalidate the bearish bias. 

Daily chart

Trend: Bearish

Technical levels

EUR/USD

Overview
Today last price 1.2142
Today Daily Change -0.0021
Today Daily Change % -0.17
Today daily open 1.2163
 
Trends
Daily SMA20 1.2097
Daily SMA50 1.2153
Daily SMA100 1.2023
Daily SMA200 1.179
 
Levels
Previous Daily High 1.2243
Previous Daily Low 1.2156
Previous Weekly High 1.217
Previous Weekly Low 1.2023
Previous Monthly High 1.235
Previous Monthly Low 1.2054
Daily Fibonacci 38.2% 1.2189
Daily Fibonacci 61.8% 1.221
Daily Pivot Point S1 1.2132
Daily Pivot Point S2 1.21
Daily Pivot Point S3 1.2045
Daily Pivot Point R1 1.2219
Daily Pivot Point R2 1.2274
Daily Pivot Point R3 1.2306

 

 

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