2019-11-11 • Updated
Recommendation:
SELL 0.8945
SL 0.9000
TP1 0.8845 TP2 0.8785 TP3 0.8745
On the daily chart, the inability of bulls to lead EUR/GBP outside of the long-term trading range of 0.87-0.902 points at their weakness. If bears manage to bring the pair to the middle of the consolidation range, a “Shakeout-Fakeout” pattern will be triggered. The chances of uptrend’s reversal will increase.
On H1 of EUR/GBP, a combination of “Three Indians” and 1-2-3 gives a powerful signal about the potential reversal. To begin with, bears need to pull the pair below an important support of 0.8945.
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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 ...
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.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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