EURUSD – Shallow Pullbacks, Non-Volatile Trend
Showing no ability to touch the dynamic resistance and daily 20 EMA, the EURUSD has been sold virtually ever 2 out of 3 days and continues to get pummeled.
This is not the time to look for deep pullbacks (yet), as you can see shallow pullbacks have been sold with this being a non-volatile trend. Hence I’ll look to get short into 1.2590 and 1.2660.
Downside targets are 1.2460, 1.2303 and 1.2175, so bearish bias remains until a daily close above 1.2715 near term.
USDJPY – Bulls Step in On Pullback
After dropping 200 pips from the 110 highs that I took profit on my live trade setup, the USDJPY found some aggressive buyers …