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| EUR/USD 1-hour chart, source: forexfactory.com |
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| EUR/USD weekly chart, source: forexfactory.com |
The weekly chart of EUR/USD shows the market volatility decreases since January. The decreasing volatility tells the stable and quiete market. And it means market builds the momentum up. The direction of the moment is not sure yet.
And we need to watch the Fed's action. Because the price will move up or down by Fed's decision. Fed freezed Federal Fund Rate to 0.5 percenct on Wednesday. They worried still the uncertainty in U.S. economic situation. It led the weak U.S. dollar. But there is still the possibility of benchmark rate increasing in the year, it made the rise of USD.
In short term, we can confirm the upward trend. One-hour chart of currency pair EUR/USD draws the upward trend line. The price is under the adjustment now and the adjustment seems to be continued till trend line. It may fall to 1.1200. If the level of 1.12 fail to support the price, the possibility of breaking the upward trend increases.
And we need to watch the Fed's action. Because the price will move up or down by Fed's decision. Fed freezed Federal Fund Rate to 0.5 percenct on Wednesday. They worried still the uncertainty in U.S. economic situation. It led the weak U.S. dollar. But there is still the possibility of benchmark rate increasing in the year, it made the rise of USD.
In short term, we can confirm the upward trend. One-hour chart of currency pair EUR/USD draws the upward trend line. The price is under the adjustment now and the adjustment seems to be continued till trend line. It may fall to 1.1200. If the level of 1.12 fail to support the price, the possibility of breaking the upward trend increases.
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