EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bearish "Three Methods" pattern
2019-11-11 • Updated
The last "Shooting Star" pattern has been confirmed, so the pair is likely going to test the 34 Moving Average. If any bullish pattern forms afterwards, there'll be an opportunity to have another upward price movement.
We've got a bearish "Three Methods" pattern, so we should keep in mind the 55 Moving Average as an intraday target. However, we could have a local upward correction later on.
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?