EUR/JPY broke key support level 131…
EUR/USD on the way to reach higher levels
EUR/USD has been refreshing its multi-anual highs across the board, with the help of a weak US Dollar in the FX space and now we’re seeing that it’s correcting recent gains and looks forward to test a key Fibonacci area. Such zone lies between the 1.1864 and 1.1803 level, where the pair could start to gain momentum to reach the next target around the -23.6% Fibonacci retracement level at 1.2165. Of course, once it breaks above August 29th highs.
RSI indicator still hovers in the oversold territory.
There isn't any reversal pattern so far. If the 21 MA acts as resistance, we're likely going to have just another decline...
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.
Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.