EUR/USD Dragonfly Doji Pattern for Long Trades

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

  1. The Daily chart shows a possible bounce due to various confluence points.
  2. We can also spot SHS pattern ( Bearish Shoulder Head Shoulder) formation and we could see a move up
  3. There is a historical support where the price has already bounced
  4. The dragonfly Doji pattern is showing bullish momentum
  5. 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