Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 144 MA acted as resistance once again
2019-11-11 • Updated
The 144 Moving Average has acted as resistance once again, so there's a 'Shooting Star' pattern. In this case, the pair is likely going to test the nearest support at 1.1690. A pullback from this level could be a departure point for another upward price movement towards the next resistance at 1.1787.
There's a 'High Wave' pattern, which has been formed on the upper 'Window'. So, it's time for a downward correction. The main intraday target is the 89 Moving Average (1.1690), which could be a starting point for a bullish price movement.
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USD: Powell Speaks on Cutting Interest Rates
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 ...
WTT: Currency Pairs To Trade In April
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.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
