EUR/USD: bullish 'Engulfing'

EUR/USD: bullish 'Engulfing'


There's a bullish 'Engulfing', but the price faced with resistance by the 89 Moving Average. In this case, we should watch the lower 'Window' (1.1322) as an intraday target. The subsequent pullback from this level could lead to an upward correction towards the 144 MA (1.1414).


The price is rising because of the last 'Tweezers'. At the same time, the upper 'Window' (1.1387) has acted as resistance. If any bearish pattern forms next, there'll be a green light for a decline in the direction of the lower 'Window' (1.1322), which acted as support many times before.



Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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