Despite a slight decline from its highest levels since 2002, around 109 range, it is just a correction, and the green king, the US dollar, will resume its rally…
EUR/USD: an inside bar stopped bears
2019-11-11 • Updated
SELL 1.1945 SL 1.2 TP1 1.1845 TP2 1.1765 TP3 1.166
BUY 1.201 SL 1.1955 TP1 1.2065 TP2 1.211 TP3 1.216
On the daily chart of EUR/USD, after the pair reached 88.6% and 161.8% targets of “Bat” and “AB=CD” patterns, odds of the pair’s rebound up increased. The inside bar was formed. It means that bears may pause their attacks.
On H1, bulls and bears are fighting for the important level of 88.6% from the XA wave of the “Bat” pattern. If bulls succeed, odds of the pair’s rebound to 1.206, 1.216 and 1.2235 will increase. Vice versa, if bears are more successful, the pair will decline.
What will happen? Federal Reserve Chair Jerome Powell will give a speech during the Jackson Hole Symposium on August 26 at 18:00 GMT+3…
As central banks raise rates amid recession fears and companies deliver financial results, markets are super active and provide multiple trade opportunities. Let's see what awaits traders this week!
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