Japanese Yen Strengthens on COVID-19 Worries
What happened? Japanese shares fell on Monday…
USD/JPY: bearish "Shooting Star"
2019-11-11 • Updated
The 55 Moving Average is acting as resistance, so we've got a "Doji" and an "Engulfing" at the local high. However, these patterns haven't been confirmed enough, so the pair is likely going to test the 55 Moving Average once again. If we see a pullback from this line, bears will have a chance to achieve the nearest support level.
There's a consolidation, which is taking place on the one-hour chart. The 144 Moving Average has acted as resistance, so we've got a "Shooting Star" pattern. Under these circumstances, we could keep in mind the lower "Window" as the next bearish target.
Similar
USD: a sudden plunge for a quick pick-up!
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
USD, GBP, JPY: the week of interest rates and monetary reports!
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
Latest news
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...
