EUR/USD:  bullish 'Engulfing' pushing price higher

EUR/USD: bullish 'Engulfing' pushing price higher


There's a bullish 'Engulfing', so the market is likely going to test the 34 Moving Average, which could act as resistance. If so, we should keep an eye on the lower 'Window' (1.1400) as the next bearish target.


We've got an 'Engulfing', which has been formed on the 55 Moving Average, so we're going to have a local correction towards 1.1471. If a pullback from this level forms next, there'll be a moment to have another bullish price movement.



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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