The market attempting to base near term, testing 21-DMA. Dips lower to find support at the 55-day ma at 118.32/28. Now testing the 21-day moving average and a 61.8% Fibonacci confluence, overcoming the 6-month downtrend at 118.77 and rising from 116.58/115.87 recent lows of late, the cross is now up to test the above the 120.00/05 (recent high and 38.2% Fibonacci retracement) and bulls are well on their way to the June lows at 120.79/96 which comes before the 121.38 late July high and the 200-day moving average of 122.32. “The market is possibly attempting to base near term and the close above 120.05 adds weight to that view. Dips lower will find support at the 55-day ma at 118.32/28 ahead of the 117.45 uptrend,” analysts at Commerzbank argued. On the downside and wide, bears can target 115.87 ahead of the 2017 low at 114.86. EUR/JPY weekly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin price prediction: What next after BTC/USD breaks below $8,000? FX Street 4 years The market attempting to base near term, testing 21-DMA. Dips lower to find support at the 55-day ma at 118.32/28. Now testing the 21-day moving average and a 61.8% Fibonacci confluence, overcoming the 6-month downtrend at 118.77 and rising from 116.58/115.87 recent lows of late, the cross is now up to test the above the 120.00/05 (recent high and 38.2% Fibonacci retracement) and bulls are well on their way to the June lows at 120.79/96 which comes before the 121.38 late July high and the 200-day moving average of 122.32. "The market is possibly attempting to base near term and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
