[EUR] On the Crossroad

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

The reports released on last Friday supported the U.S. economy fundamental. Non-Farm employment increased 200 thousands which expected 180 thousands and it was 160 thousands in previous term. The unemployment rate kept 4.1 percent and the average earning increased 0.3 percent expected 0.2 percent.

The green-light signal to the economy has supported strong euro and weak greenback but in this case the price of currency pair EUR/USD step back and didn't make the explicit upward trendline. But it doesn't turn its direction yet.

The green-light signal doesn't show the direction, now. The positive results press the rise of U.S. benchmark interest rate to be risen four times this year which is anticipated to be risen three times. The rise of interest rate means rising U.S. dollar index and weak euro.

In the four-hour chart of the pair, there is not shown clean pattern indicating direction and it shows the adjustment in the weekly chart.

I think we don't have to trade the pair, one of the major currency pairs, need to wait till watch the pattern.

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