Sunday, 23 October 2016

[EUR] Downward in mid-term

EUR/USD 4-hour chart, source:forexfactory.com

After the less volatility, the price of currency pair EUR/USD fell last week. It plunged under the trend line of triangle, the next process may be the fall of the price.

One of the major currency moved up and down in the band till October 10 but it showed the diving in 4-hour chart. The market was closed after the price somewhat rebounded, but it looks just the adjustment and the downward trend seems to be effective.

Does the price of currency pair EUR/USD face the historical parity? My answer is "I don't know." but the historical parity will not be met yet, I guess. During the last downward trend, the price was supported around 1.05s two times. Though the trend was occurred, it continues in mid-term. The price will be supported above 1.05 to diminish the worry of the parity.

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