EUR/USD technical analysis: Doji makes today's close pivotal

Thursday's Doji candle has neutralized the immediate bullish setup.
Doji's high and low of 1.1085 and 1.1017 are the levels to beat for the bulls and the bears.

Omkar Godbole FXStreet Contributor

EUR/USD created a doji candle on Thursday, pouring cold water over the optimism generated by the bullish candlestick reversal pattern confirmed earlier this week.

So, the Doji candle has neutralized the immediate setup and has made today's close pivotal.

A close above the Doji candle's high of 1.1085 would signal a resumption of the rally from the recent low of 1.0926 and could yield a test of resistance at 1.1164 (Aug. 26 high).

A close below 1.1017 (Doji candle's low) would put the bears back in a commanding position, possibly leading to a drop to 1.0926-1.09.

As of writing, the pair is chipping away at the descending (bearish) 10-day moving average (MA) at 1.1035.

If the 10-day MA continues to cap the upside for the next few hours, the pair may end up falling below key support at 1.1017.

Daily chart

Trend: Neutral

Technical levels

EUR/USD

Overview
Today last price	1.1035
Today Daily Change	0.0000
Today Daily Change %	0.00
Today daily open	1.1034

Trends
Daily SMA20	1.1087
Daily SMA50	1.116
Daily SMA100	1.1193
Daily SMA200	1.1271

Levels
Previous Daily High	1.1085
Previous Daily Low	1.1017
Previous Weekly High	0
Previous Weekly Low	0
Previous Monthly High	1.1251
Previous Monthly Low	1.0962
Daily Fibonacci 38.2%	1.1043
Daily Fibonacci 61.8%	1.1059
Daily Pivot Point S1	1.1006
Daily Pivot Point S2	1.0977
Daily Pivot Point S3	1.0938
Daily Pivot Point R1	1.1074
Daily Pivot Point R2	1.1113
Daily Pivot Point R3	1.1142

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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