EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Thorn" pattern
2019-11-11 • Updated
The main trend is still bullish, but the price faced resistance at 1.1959, so we've got a "Thorn" pattern, which pushed the market to the 34 Moving Average. In this case, we should keep an eye on the nearest support area at 1.1827 - 1.1801 as an intraday target. If a pullback from these levels happens, we could have an upward price movement towards the closest resistance at 1.1909 - 1.1959.
Bears faced support at 1.1847, so the price is consolidating. However, the pair is likely going to test the next support at 1.1827 - 1.1822. If so, we could have a new local low soon. Meanwhile, there's an opportunity to have a bullish price movement towards the nearest resistance at 1.1892 - 1.1909 afterwards.
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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...