EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Shooting Star' and 'Engulfing'
2019-11-11 • Updated
There's a 'Shooting Star', which has been formed on the 144 Moving Average. In this case, it's likely that the market is going to test the next support at 1.1505. A pullback from this level could be a starting point for another bullish rally.
There're bearish patterns such a 'Shooting Star' and an 'Engulfing', both of them have been confirmed. Therefore, we should keep an eye on the nearest significant support at 1.1505 as an intraday target.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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?