Friday, 20 January 2017

[EUR] Turning to short bias

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

The 4-hour chart of currency pair EUR/USD showed an upward trend explicitly, but it seems that the trend finishes and the price falls again. The chart has risen making its bottoms higher till yesterday. But it failed to update peaks and began to sank. The price of currency pair is put on the support line in 4-hour chart yet, but it unlikely support the price, I guess. Because EUR/USD doesn't keep its trend without the adjustment in my experience.

Though the price falls, it isn't likely to fall below 1.05 for a short term.

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