Trade Ideas to Follow This Week
EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: euro returned to the neckline
2019-11-11 • Updated
On the EUR/USD daily chart, there is a struggle for the area near the neckline of the "Head and shoulders" inverted pattern. If the "bulls" manage to push quotes above 1.0775, then the pattern will be realized and we will able to count on the continuation of the rally towards 1.104. There is 161.8% target in AB = CD pattern. In contrast, the weakness of buyers can lead to the development of correction towards the current short-term uptrend.
On the EUR/USD hourly chart, the "Three Movements" pattern has been implemented. There is a high probability of transformation of the Shark pattern into 5-0. It implies a correction towards 38.2%, 50% and 61.8% levels of the CD wave, followed by the formation of the second shoulder of the "Head and Shoulders" pattern.
Similar
SNB Won't Let EUR/CHF Fall
What happened? It looks like the decline in EUR/CHF to 1…
EUR/USD Hit All Targets
4H Chart Daily Chart EURUSD managed to rise further on Friday inline with our expectations, reaching our entire targets mentioned in our previous notes at 1…
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...
