EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish "Engulfing"
2019-11-11 • Updated
There's a bullish "Engulfing", which has been confirmed enough. So, the market is likely going to continue moving up towards the nearest resistance area, which could be a departure point for another decline.
We've got a bullish "Hammer", but confirmation of this pattern is still on the way. Therefore, we could have a local bearish correction during the day. However, if a pullback from the closest support happens little later on, there'll be an opportunity to have an upward price movement in the direction of the last high.
The EUR/USD pair is making gains, approaching multi-month highs around 1.0960, driven by a weakened USD and Christine Lagarde's somewhat hawkish remarks before the European Parliament. Minor housing data from the U.S., specifically New Home Sales for October, came in below expectations but didn't significantly impact the pair. Lagarde, President of the...
Global equities on Wall Street experienced a mixed session following the Thanksgiving holiday, heading for the most significant one-month rally since November 2020. MSCI's global shares index slightly eased but was still on track for an 8.5% monthly gain, fueled by growing investor confidence that U.S. interest rates...
Brent crude futures is maintaining stability this Friday, with traders awaiting an OPEC+ meeting that might lead to further supply cuts. Brent crude was down 8 cents at $81.34 a barrel, following a 0.7% drop in the previous session.