EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Three Black Crows" pattern
2022-12-28 • Updated
There're a "High Wave" and a "Harami" patterns, which have been formed at the last high. Therefore, the price is likely going to test the 21 Moving Average, which could be a departure point for another bullish price movement.
We've got a "Three Black Crows" pattern, which has been confirmed. In this case, we should keep an eye on the 55 Moving Average as an intraday bearish target.
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.