EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/JPY testing a key pivotal zone
2019-11-11 • Updated
EUR/JPY has been finding support around the key Fibonacci demand area of 50% and 61.8%, established between the levels of 129.73 and 129.53. Above that zone, the pair could gain momentum in order to look for bullish targets. If that happens, then we might expect a higher continuation towards -23.6% Fibonacci level at 131.00 approximately.
To the downside, the scenario mentioned above could get invalidated when then pair does a break below the Fibonacci retracement level of 65% at 129.47 and the focus should shift towards 129.23 in a first degree. RSI indicator remains in the neutral territory, calling for more sideways.
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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...