Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 34 Moving Average acted as resistance
2019-11-11 • Updated
The 34 Moving Average has acted as resistance, so there's a confirmed bearish 'Engulfing' pattern. In this case, it's likely that the price is going to test the lower 'Window' (1.1107), which acted as support a few days ago.
There're bullish patterns such a 'Harami' and a 'Hammer', so the upper 'Window' (1.1333) is likely going to act as resistance once again. If a pullback from this level forms little later on, there'll be a green light for another decline towards 1.1214.
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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...
