Good day traders.

The daily chart on the euro dollar is showing us 2 dojis. It is really getting a bit scary trading this pair at this moment. A correction from here can be steep and going against the trend can be suicidal too.

eur-usd chart

eur-usd chart

Looking at the past candles when this pair is on an uptrend, a double doji can mean two things:

1. The trend might continue up.

2. A green bar after the 2 dojis followed by a red reversal bar to catch all the bulls offguard.

So, I am looking out for the 2 scenarios above. Lets see how things pan out.

Wishing you success in your trading!

~ Ardy

Singapore Forex Traders’ Blog