EUR/USD: bearish 'Engulfing' pattern
The market is likely going to test the nearest support at 1.1730. If a pullback from this level forms next, bulls will probably try to...
AUD/USD on its way to duplicate a bearish cycle
AUD/USD has been trading in a bearish tone across the board and is making a breakout below the lows from the last three weeks. This move has allowed to the Aussie to consolidate the price action below the 200 SMA, at which it found strong dynamic resistance and that’s why we’re expecting a lower continuation towards the Fibonacci level of 100% at 0.7608. To the upside, if the pair manages to rebound at the current stage, then the next target would be the highs from last week.
RSI indicator stays in the oversold territory, favoring to the bullish scenario.
Felipe Erazo
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