EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bearish 'Three Methods' pattern
2019-11-11 • Updated
There's a bearish 'Three Methods' pattern, so the market is likely going to test the lower 'Window' soon. A pullback from this level could be a departure point for a bullish correction.
The price has been declining since the last 'Harami' was formed. Also, there's a 'Three Methods' pattern. So, we should keep on track the lower 'Window' as the next bearish target.
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?