EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/AUD broke resistance zone
2019-11-11 • Updated
- EUR/AUD broke resistance zone
- Next buy target - 1.4700
EUR/AUD continues to rise after the earlier breakout of the resistance zone lying between the resistance levels 1.4300 (top of the previous waves 2 and (A), intersecting with the 61.8% Fibonacci correction of the previous sharp downward impulse (C) from December) and 1.4400. The breakout of this resistance zone follows the earlier breakout of the extended daily down channel - which accelerated the active minor impulse wave 3.
EUR/AUD is expected to rise to the next buy target at the next resistance level 1.4700 (which reversed the previous intermediate correction (B) in December).
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
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