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NZD/USD and EUR/JPY in focus for the open
It is going to be a busy week ahead with both the FOMC and Bank of Japan as well as key data such as US Retail Sales on the radar. Meanwhile, from a technical standpoint, the following illustrates the current pairs under the spotlight for the open and week ahead. chart The daily bearish engulfing has led to the pair dropping and correcting to a 38.2% Fibonacci retracement level which is significant enough to ow expect a downside continuation to test deeper into the demand zone. Traders will be on the lookout for bearish conditions on the 4-hour time frame for a swing trading opportunity. chart Meanwhile, the euro ... (full story)