EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bearish correction just around the corner
2019-11-11 • Updated
Wave (iii) is going to end soon. If a pullback from the upper side of the current ending diagonal happens, there’ll be time for correction. The main target for wave (iv) is 5/8 MM Level, which could be a departure point for another bullish wave.
As we can see on the one-hour chart, there’s a triangle in wave [B], so the price is rising in wave [C]. At the same time, wave a or w is likely going to start in the short term. In this case, we should keep an eye on 6/8 MM Level as an intraday target.
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.