EUR/USDAs I warned here yesterday, the Euro was volatile during the ECB press conference and the min. bid rate announcement. After a negative reaction, the Euro started climbing and ended up green in the end of the day. The strong correlation we have seen between this pair and Wall Street fade away in the recent days, so it is difficult to analyze this currency according to the stock markets these days.
Yesterday’s candlestick ended up green eventually, as a long shadow extends from its body, which indicates that many buyers went in. If the Euro breaks through yesterday’s high at 1.4320, it might hit the pick that it had reached just few days ago, at 1.4580. On the other hand, a break- down of the strong support at 1.4220 might pull back the sellers again.
EUR/JPYThe USD/JPY broke through the bull-triangle. Which I had analyzed yesterday, and the bullish mini-trend might continue there. The Euro, as stated, grew yesterday, so the pair EUR/JPY has potential for increasing.
The 20 EMA is traded close to the 50 EMA, and a cross will signal for prices strengthening. If the Euro breaks through yesterday’s high at 116.80, it will create a reversal pattern under the resistance at 118.0, which we have been follow for few weeks. Likewise, there is a strong support at 115.5, and its break-down might lead
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