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| EUR/USD 4-hour chart, source:forexfactory.com |
The currency pair of EUR/USD has risen since last mid December and made a cross candle this week in weekly chart. The continuous increasing price of euro to dollar faced a level-off this week and it seems to sidle next week.
In one hour chart, it seems that the upward trend is still effective. There is an available upward trend line and price keeps rising. But it discords with a four-hour chart. The price fell below the trend line and sidled along, seems to face a plunge in four-hour chart.
The discord among different time-size charts says the long bias is being tested. If the price keeps rising, it will face the resistance at 1.0720. It seems to fail break through.
We need to change the bias.
I recognize that my analysis isn't always right. And I emphasize that the risk management is more important than the forecast the price. The management keeps your positions from being destroyed.
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