EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bearish "Engulfing"
2019-11-11 • Updated
We've got a bearish "Engulfing", but this pattern hasn't been confirmed enough. Therefore, the market is likely going to test the nearest support, which could be a departure point for another upward price movement.
There's a bearish "Tweezers", which has confirmation. However, we've got a bullish "Hammer", so the pair is likely going to reach the closest resistance. If a pullback from this level happens, bears will have a green light to test the 55 Moving Average.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?