EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: no any reversal pattern
2019-11-11 • Updated
The market has been declining since a 'Wedge' pattern was broken. There's no any reversal pattern, so the price is likely going to continue moving lower. At the same time, there's an opportunity to have an upward correction little later on.
The pair has broken the last 'Pennant' pattern. The main intraday target is the next support at 1.2051 - 1.2027. A pullback from this area could be a departure point for an upward correction.
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
During his program on CNBC on February 28, Jim Cramer expressed frustration with the impact of earnings reports on market behavior, noting how they often prompt rash decisions by average investors. He criticized the short-term focus and lack of attention to nuance in news coverage of earnings. Cramer cited examples of Home Depot and Lowe's, highlighting how investors reacted hastily to headline news without considering the broader context provided in earnings calls.
After creating record highs, Wall Street's main indexes opened on Wednesday and began to edge lower, reflecting cautious sentiment among investors. They're eagerly awaiting crucial inflation data that could impact the U.S. Federal Reserve's interest rate decisions. The upcoming release of the personal consumption expenditures (PCE) price index is expected...