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 support
2019-11-11 • Updated
The 34 Moving Average acted as support, so there's a bullish 'Hammer' pattern, which has been confirmed. At the same time, we've got a 'Shooting Star', so the market is likely going to test the Moving Averages soon. If a pullback from these lines happens next, bulls will probably try to reach the nearest resistance at 1.1836.
There's a 'Shooting Star', which has been formed on the upper 'Window'. So, after a short break, the pair is likely going to test the closest support at 1.1739. A pullback from this level could be a starting point for an upward price movement in the direction of the next resistance at 1.1836.
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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...
