EUR/USD 4H chart EUR/USD surged after Powell’s speech on Friday…
EUR/USD: "Engulfing" and "Tweezers"
2022-12-29 • Updated
There are bearish patterns such a "Shooting Star, an "Engulfing" and a "Tweezers". However, confirmation of these patterns isn't enough, so we could have just a local downwards correction. If a pullback from the nearest support happens, there'll be an opportunity to have another upward price movement.
There's a "Hanging Man" at the last high, which has been confirmed enough. So, bears are likely going to test the 55 Moving Average, which could be a departure point for another bullish rally.
Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.
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