There's a bearish 'Engulfing', so the pair is likely going to reach the nearest support at 110.17. A pullback from this level could be a departure point for a bullish rally towards the upper 'Window' (110.99).
The price is declining because of the last 'Dark Cloud' pattern. Also, there's a bullish 'High Wave'. In this case, it's likely that after a short break, the market is going to test the 55 Moving Average line.
What happened? Japanese shares fell on Monday…
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
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...
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