EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD reversed from support zone
2019-11-11 • Updated
- EUR/USD reversed from support zone
- Next buy target - 1.2500
EUR/USD recently reversed up from the support zone lying between the key support level 1.2200 (which has been reversing the price from the start of February), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from December. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing. EUR/USD is likely to rise further toward the next buy target at the next resistance level 1.2500.
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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 ...
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.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...