EUR/USD: local bullish 'Engulfing'
The market is likely going to test the next resistance at 1.1836, which could be a starting point for a bearish correction...
EUR/USD: 34 MA acted as support
The price is consolidating between the levels 1.1892 - 1.1822. It's likely that bulls are going to reach the nearest resistance at 1.1892 in the short term. If a pullback from this level happens little later on, there'll be an opportunity to have a decline towards the closest support at 1.1822 - 1.1793.
The 34 Moving Average has acted as support, so the price is consolidating. In this case, bears are likely going to test the 55 Moving Average soon. However, if we have a pullback from this line, bulls will probably try to reach another resistance at 1.1879 - 1.1889.
Sergey Logachev
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