 |
| EUR/USD 4-hour chart, source: www.forexfactory.com |
Though I wrote new upward trend, the price of currency pair EUR/USD
dropped more one big. In short term, my thought is proved incorrect.
But I still keep my opinion of Long bias to EUR/USD. In the weekly chart,
the price retreats but the pattern of trend-turning to upward is still
available and the price drop may be a chance of buying euro. The price of pair
showed some long negative candles in four-hour chart. Unlikely stocks,
currencies don’t go just one side in a short term, tend to oscillate like sine
curve and cosine curve in mathematics. It means dropped price rebound again.
Most of all, market circumstance supports weak dollar. Hike of benchmark
index leads market participants to invest to risk-high asset such as equities,
emerging market and so on. Overseas investment makes currency in emerging
market strong. U.S. dollar in under the pressure of step-down.
I’m not a prophet but normal market participant. And I emphasize the risk
management, not accurate prediction. Though the anticipation is wrong, risk
management keep our account from being ruined.
https://www.facebook.com/Gjallarhorn.report/
No comments:
Post a Comment