EUR/USD Price Analysis: Monday's candle signifies indecision

  • Long wicks attached to Monday's candle indicate a lack of clear directional bias.
  • A close above Monday's high is needed to revive the bullish view. 

EUR/USD traded back and forth in a 106-pip range on Monday, forming a candle with long upper wicks on the daily chart

Such candles imply indecision or a situation where both bulls and the bears are unwilling or lack the strength to lead the price action. 

Therefore, the immediate bias will remain neutral as long as the pair is trading within Monday's range of 1.18-1.1906. 

A daily close above 1.1906 would mean the period of indecision has ended with a bullish breakout. That would open the doors for a rally to at least 1.2012 (target as per the measured move method). 

Alternatively, acceptance under 1.18 would confirm a bearish reversal and shift risk in favor of a drop to 1.1602 (Nov. 4 low). The pair is currently trading largely unchanged on the day near 1.1845. 

Daily chart

Trend: Neutral

Technical levels


Today last price 1.1844
Today Daily Change 0.0006
Today Daily Change % 0.05
Today daily open 1.1838
Daily SMA20 1.179
Daily SMA50 1.1775
Daily SMA100 1.1744
Daily SMA200 1.1383
Previous Daily High 1.1906
Previous Daily Low 1.18
Previous Weekly High 1.1894
Previous Weekly Low 1.1814
Previous Monthly High 1.1881
Previous Monthly Low 1.164
Daily Fibonacci 38.2% 1.184
Daily Fibonacci 61.8% 1.1865
Daily Pivot Point S1 1.179
Daily Pivot Point S2 1.1742
Daily Pivot Point S3 1.1684
Daily Pivot Point R1 1.1896
Daily Pivot Point R2 1.1954
Daily Pivot Point R3 1.2002



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