EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bulls going to test nearest resistance
2019-11-11 • Updated
The price is still consolidating between the levels 1.0629 – 1.0678. Considering a possible reversal pattern, the market is likely going to test the nearest resistance at 1.0732. If a pullback from this level happens, there’ll be an opportunity to have a decline towards a support at 1.0655.
We’ve got a pullback from a support at 1.0629, so a “V-Bottom” pattern has been formed. In this case, bulls are likely going to reach the 89 Moving Average during the day. However, if a pullback from this line happens, bears will probably try to achieve the nearest support at 1.0655 – 1.0639.
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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...