[EUR] Double-tops pattern?

EUR/USD 1-hour chart, source: forexfactory.com

German trade balance in last November was reported 21.7 billion euro, lager than expectation 20.8 billion euro. The previous index was 20.6 billion euro. It led currency pair EUR/USD high and the price of currency pair broke over 1.06. But the price faced the adjustment and fell under the price.

The expected main trend of the pair is downward. U.S. Fed chair Janet Yellen spoke the raising its benchmark rate last month and strongly hinted at an additional interest rate hike, and U.S. economy signals blue light to market participants while another major countries are under the depression. Economists and analysts even forecast the parity between euro and greenback.

Even if the euro rises, it seems to be more appropriate to use the opportunity to enter the selling position rather than to pursue buying.

Tuesday, now, the chart draws a pattern. If the pattern of double-tops is completed, the price turns downward and keeps the trend. And uncompleted pattern supports the other scenario the support line is effective and the price is supported by the trend line. But major bias is short and it restrain from rising trend.

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