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dainiushka
May 8, 2022 10:34 AM

EURUSD, AB=CD pattern, long-legged doji Long

EUR/USDOANDA

Description

EURUSD formed a bullish AB=CD pattern and long-legged doji candle. "Long-legged doji candles are deemed to be most significant when they occur during a strong uptrend or downtrend. The long-legged doji suggests that the forces of supply and demand are nearing equilibrium and that a trend reversal may occur. This is because equilibrium or indecision means that the price is no longer pushing in the direction it once was. Sentiment may be changing." - by investopedia. EURUSD has strong 1.0500 support. Seven candles bounce off this level and formed a range. It is seven years lows and support. EURUSD is a little oversold and maybe pullback towards 20 ema on 1 day time frame or towards a 1.0800 resistance. What event to watch in economic calendar tommorow? FOMC members will speak. MAY 9 - Russian victory day, what will Putin announce in this day.
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kraados
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