Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: 'V-Bottom' points to upward correction
2019-11-11 • Updated
There's a 'V-Bottom', so we're likely going to have an upward correction. The main intraday target is the nearest resistance at 1.1425 - 1.1478. A pullback from this area could be a starting point for another decline towards the next support at 1.1365.
It's likely that there's a 'Triple Bottom', so the price is rising. In this case, we should keep an eye on the 55 Moving Average as a bullish target. Meanwhile, if a pullback from this line happens next, there'll be a moment to have a decline in the direction of another support at 1.1365.
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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...
