[EUR] Colliding Two Bias

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

Donald Trump, U.S. President supports weak dollar to be more competitive in the trade war. His policy may lead weak greenback during his tenure.

But economy leader Jerome Powell is hawkish. Powell, chair of Federal Reserved System gave notice of benchmark-rate hike in the year. It is very powerful event to the currency market and it makes U.S. dollar up.

The plan of benchmark hike is already known to the participants in the last year. Participants in the market say, known news is not the news any more. Already kown planned event may fail to make new trend, as the market events have shown.

Mario Draghi, president of Europe Central Bank or ECB spoke on Wednesday that ECB would keep the financial policies. He spoke ECB benchmark rate would be kept in low for long time. Unrising interest rate can't provoke the surge of EURO price. As he confirmed the consitent economy policy, the price of currency pair EUR/USD falled.

In technical analysis, the four-hour chart of the pair lowered its peaks and made the double-tops pattern which is known to trend-turning to down pattern. The try to break through 1.24 has failed and the price is tested whether price-support-band, 1.2300~1.2340 remains availably.

Two opposed bias collides, but I bet to short position, weak greenback. It's not problem, correct anticipation is not prior to money management. We may win the anticipation or not. But we need to money management including loss-cut is more important.

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