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Gravestone Doji

EURUSD TECHS
  • RES 4: 1.2193 2.0% 10-dma envelope
  • RES 3: 1.2128 Bear channel top drawn off the Jan 6 high
  • RES 2: 1.2116 76.4% retracement of the Feb 25 - Mar 31 sell-off
  • RES 1: 1.2080 High Apr 20
  • PRICE: 1.2029 @ 17:23 BST Apr 21
  • SUP 1: 1.1943 Low Apr 19 and key near-term support
  • SUP 2: 1.1861 Low Apr 7 and 8
  • SUP 3: 1.1795 Low Apr 6
  • SUP 4: 1.1738 Low Apr 5

EURUSD maintains a bullish tone although the pair did stall at Tuesday's high of 1.2080. In pattern terms, Tuesday's candle session appears to be a gravestone doji and if correct is a bearish reversal signal. A deeper sell-off would expose firm short-term support at 1.1943, Apr 19 low where a break would strengthen a bearish case. For bulls, a climb above Tuesday's high would negate the pattern and open the 1.2116-28 resistance zone.

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