EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Double Top" stopped bulls
2019-11-11 • Updated
The main trend is still bearish. The price faced a resistance at 1.0781, so we’ve got a “Double Top” pattern, which led to decline to a support at 1.0713. However, bears are likely going to continue moving down towards the next support at 1.0701 – 1.0688. If a pullback from this area be on the table, there’ll be an opportunity to have another bullish price movement.
There’s a “Double Top”, which has been confirmed. Therefore, the market is likely going to reach the nearest support at 1.0698 – 1.0688. Meanwhile, if we have a pullback from these levels, bulls will probably try to achieve a resistance at 1.0759 – 1.0781.
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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...