EURUSD (1.1389): The EURUSD currency pair posted a strong bullish engulfing candlestick pattern yesterday. Price action is likely to test the 1.1400 level in the near term. A breakout above this level is required for the EURUSD to post further gains. This comes as the currency pair is seen posting a near inverse head and shoulders pattern. If the neckline resistance at 1.1462 – 1.1435 is breached, then the minimum upside target is seen at 1.1620.
