Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: broken uptrend
2019-11-11 • Updated
The price has broken the last uptrend, but the 89 Moving Average acted as support. However, the market is likely going to continue moving down towards the next support at 1.1131 - 1.1108. If we see a pullback from this area, there'll be an opportunity to have an upward price movement in the direction of the nearest resistance at 1.1165.
There's a "Double Bottom" pattern, which has been confirmed. In this case, bulls are likely going to reach the closest resistance at 1.1181 - 1.1193 during the day. At the same time, if a pullback from these levels happens, bears will have a green light to catch the nearest support at 1.1131 - 1.1108.
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
