EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: price has gone through the 'Window'
2019-11-11 • Updated
The price has gone through the 'Window'. At the same time, there's a bullish 'Hammer', so the broken 'Window' is likely going to act as resistance. If a pullback from this level happens little later on, there'll be a moment for another decline.
There's a 'Morning Star', so the market is likely going to test the 34 Moving Average in the coming hours. A pullback from this line could be a starting point for a downward price movement towards the next support.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.