Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'Three Methods' pattern
2019-11-11 • Updated
The price has reached the 34 Moving Average, but we've got a 'Three Methods' pattern. In this case, the market is likely going to continue declining towards the 89 & 144 Moving Averages. If a pullback from these lines happens next, there'll be a moment for another bullish rally.
There's a bullish 'Doji', but confirmation of this pattern is quite weak. Previously, a 'Hanging Man' pattern was formed. Thus, we should watch the 34 Moving Average (1.1485) as a possible departure point for a decline in the direction of the lower 'Window' (1.1412).
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USD: Powell Speaks on Cutting Interest Rates
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
WTT: Currency Pairs To Trade In April
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
EURUSD: Seeking liquidity in weekly selling zones. Key intraday levels.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
