EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: consolidation along the 34 MA
2019-11-11 • Updated
The 34 Moving Average has acted as support, so we've got a "V-Bottom" pattern, which pushed the price to resistance at 1.1425. So, the market is likely going to continue moving up towards the next resistance at 1.1444 - 1.1464. If we see a pullback from this area, there'll be an opportunity to have a decline in the direction of the nearest support at 1.1379 - 1.1370.
The price is consolidating along the 34 Moving Average. It seems like bulls are ready to reach the next resistance at 1.1444 - 1.1455 during the day. However, if a pullback from these levels happens, we could have a local downward correction.
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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...