EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Harami' led to upward correction
2019-11-11 • Updated
The last bullish 'Harami' led to the current upward correction. However, there's a bearish 'Evening Star', so the price is likely going to test the next support at 1.1433 within the next few hours.
There's a bearish 'Tweezers', which has been formed on the 34 Moving Average. In this case, we should keep an eye on the nearest support at 1.1433 as the next target. At the same time, it's possible to have a local correction to 1.1560 during the day.
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.