Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Pennant' pattern pushed price higher
2019-11-11 • Updated
The pair has been rising since the last 'V-Bottom' pattern formed. The main intraday target is the next resistance at 1.1757 - 1.1790. A pullback from this area could be a starting point for a downward correction towards the 89 Moving Average.
The last 'Pennant' pattern pushed the price higher. Meanwhile, it's likely to have a bearish correction during the day. So, we should keep an eye on the closest support at 1.1720 - 1.1706 as a local target. If a pullback from these levels happens next, there'll be a moment for another upward 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...
