Few Good Trading Setups After The Powell's Testimony

Published 02/28/2018, 05:49 AM
EUR/USD
-
GBP/JPY
-
XAU/USD
-
DE40
-
DX
-
GC
-

Hawkish Powell sends stocks and gold lower and the USD higher. EUR/USD used this to break from the sideways trend. The price escaped from the symmetric triangle by breaking the lower line of it. The aim now is the support on the 1.2070. Negative scenario will be denied, once the price will break the resistance on the 1.228, which is now less likely to happen.


DAX is slowly recovering after this sell-off from the beginning of the month but it is not going well. At least not as good as in the America. Index here is locked inside of the wedge pattern, which stopped going up on the 28,2% Fibo. As long as we stay below this level, the most probable scenario is the price breaking the lower line of the wedge and testing the 11900 points again.


GBP/JPY is very close to create a major sell signal. All we need for that is the breakout of the lower line of the wedge and the horizontal support on the 147.60. Once this will happen, we should get a sell signal for the 700 pips. Definitely something interesting in the long-term.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.