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EUR/USD Price Analysis: Market turns indecisive

  • EUR/USD's daily chart shows indecision in the market. 
  • A close below Wednesday's low would imply a bearish breakdown. 

EUR/USD is currently trading marginally higher on the day near 1.1752. 

On Wednesday, the pair witnessed two-way business before printing a flat close, creating a classic Doji candle on the daily chart. 

The Doji represents indecision in the market place. As such, the immediate bias is neutral. 

A move below the Doji candle's low of 1.1720 would mean the period of indecision has ended with a bear victory and could yield a re-test of the September low of 1.1612. 

Alternatively, a close above the Doji candle's high of 1.1771 would confirm a bullish Doji reversal pattern. That said, more credible evidence of a breakout would be 1.1831 (Oct. 9 high). 

Daily chart

Trend: Neutral

Technical levels

 

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