EUR/USD: Weekly Candle Signals Indecision, Range Still in Play

Welcome back to another technical update on EUR/USD.

With the weekly candle now closed, what we observe is a small-bodied candle with both a long upper shadow and a long lower shadow.
This is a typical indecision candle, and it could be classified as either a spinning top or a shooting star—depending on how we interpret the relative size of the wicks.

• A spinning topforms when the upper and lower shadows are roughly similar in size, and the body is small, signaling a balance of uncertainty between buyers and sellers.
• A shooting star, typically seen as a bearish reversal pattern, is characterized by a much longer upper shadow´compared to the lower shadow, with a small body near the candle’s low.

In this case, the lower shadow is not insignificant, so the candle we are seeing is somewhere between a spinning top and a shooting star.
Given that it has printed after an upward move, this formation could be interpreted as a potential topping signal or at least a warning of market hesitation at these levels.

4H Chart – Range Structure Still Dominating

Zooming into the 4-hour timeframe, price remains firmly within the range we have been tracking, and no major developments have occurred since our last update.

Key levels to watch remain:

• Range Lows: ~1.12800
• Range EQ (Equilibrium): ~1.14300
• Range Highs: ~1.15700

A reclaim of the range EQ at 1.14300 would likely shift focus back toward the range highs around 1.15700.
Conversely, a break below the range lows at 1.12800 would shift our attention lower toward the 1.10800 support zone.

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