EUR/USD Dragonfly Doji Pattern for Long Trades
EUR/USD Technical Analysis
- EUR/USD has formed a dragonfly Doji pattern
- We should see bulls getting stronger
- The CPI data could be decisive for next move on the EUR/USD
- Higher bullish momentum happens if the resistance breaks
Daily Chart EUR/USD
- The Daily chart shows a possible bounce due to various confluence points.
- We can also spot SHS pattern ( Bearish Shoulder Head Shoulder) formation and we could see a move up
- There is a historical support where the price has already bounced
- The dragonfly Doji pattern is showing bullish momentum
- Additional bullish momentum comes if the blue level breaks along with the descending price trendline
If this is the case then the entry is 1.1800-10 zone and the intraday target is 1.1842. The swing target is above the point 5 and it can be 1.2000. Pay attention to CPI data too which can make the price volatile