The currency pair EUR/USD has tested the upper boundary of the daily range, that is, the zone formed between the levels 1.1000 and 1.1030. The asset formed a bearish engulfing at the end of the last trading week. The price of the currency pair EUR/USD is likely to drop and gain the required support at the level of 1.0500.
Last Friday silver formed the engulfing, signifying the upcoming correction. The asset might potentially pull back to the broken level of 24.75 and hit the level of 27.50. So, let’s wait and see what is going to happen next.
Oil has tested the level of 87.00. It might undergo correction soon, rise and approach the broken weekly downtrend.
Source: Tickmill