Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: Ending Diagonal Pattern
2022-12-16 • Updated
Wave 5 is likely going to take the form of an ending diagonal pattern. If so, there's an opportunity to have a zigzag in wave [iii] in the short term. The main intraday target is +2/8 MM Level.
There's a pullback from 0/8 MM Level, so we've got an upward impulse, which could be wave ii. Also, wave ii likely ended as a zigzag pattern, so the price is rising. Wave [1] is about to end, so if a pullback from 6/8 MM Level happens little later on, we're going to have wave [2] of iii.
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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...
