EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/JPY: bulls won the battle
2019-11-11 • Updated
Recommendations:
BUY 119,25 SL 118,70 TP 121,
BUY 122 SL 121,45 TP 124.
On the EUR/JPYdaily chart, after reaching 161.8% target in AB = CD pattern and breaking the upper border of the downward channel, "bulls" managed to restore uptrend. it is confirmed by the return of quotes to 88.6% level of the CD wave. To continue the rally, the bulls need to update the April high. If the "bears" manage to send the euro below 121.2 and implement the doji bar, the risk for correction will increase. Nevertheless, the buyers will still remain their control over the pair.
On the EUR/JPY hourly chart, the implementation of the downward triangle will create the prerequisites for the correction towards 119.25.
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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.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...