EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: bullish "Inverted Hammer"
2019-11-11 • Updated
The bearish correction is still developing, so there isn't any bullish pattern so far. In this case, the market is likely going to continue declining towards the nearest "Window".
We've got an "Inverted Hammer" at the last low, but confirmation of this pattern is a quite weak. Therefore, we could have a local upward correction and another decline afterwards.
The past several weeks have been a real triumph for the bulls in the oil market. The Brent spot price grew by 8.5% during the last month.
Gold prices are rising for three consecutive days ahead of the Federal Reserve (Fed) interest rate decision, which is expected to remain unchanged due to declining inflation and a positive economic outlook. Investors are keen on the Fed's interest rate guidance, fearing a hawkish stance that could trigger market risk aversion.
Amid concerns of a Chinese economic slowdown, reports of declining investment often overlook China's efficient investment strategy in emerging sectors for long-term growth. China has taken measures to stabilize foreign and private sector investments, like reducing the reserve requirement ratio to boost investor confidence.