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...
USD/JPY trying to push higher in the short-term
USD/JPY has been riding a bullish sequence above the 200 SMA at H1 chart and the 50 SMA is helping to cap further gains across the board. Due to the current position of the 200-hour moving average in the H1 chart, it’s expected to see a decline to take place towards the Fibonacci level of 50% at 106.57. If the pair manages to make a rebound over there, then the focus should shift to the -23.6% Fibonacci zone.
RSI indicator stays in the positive territory, favoring to the bulls’ momentum in the short-term.
Felipe Erazo
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