 |
| EUR/USD 4-hour chart, source:MT4 |
It's 13:20(UTC), now and the price of currecny pair EUR/USD surges from 10:00(UTC), today. But it's not uncertain that the price will continue its upward trend. Because there are price-rising factor and price-falling factor simultaneously.
Chairs of Federal Reserved System, ex-chair Janet Yellen and chair Jerome Powell have hinted Fed will raise its benchmark rate several times in the year. It supports strong greenback and price-down of currency pair.
But Donald Trump, U.S. President supports weak greenback for U.S. goods to have price competiveness in the trade war. The price of EUR/USD has risen since this month.
The fundamental of U.S. dollar is uncertain and confused.
We need to watch the chart for the technical analysis, it doesn't hint, either. The price has risen since late 2016 and made the upward trend line. And it seems to be available.
But it approaches the downward trend line which is made since 2008 and may be very powerful in the weekly chart. And it seems to face the downward trend line made since mid February, soon. It may fall to the trend turning or just to the correction.
In four-hour chart, price of the currency pair is in the triangle pattern and it seems to be trapped.
My bias to the currency pair is short. Because I place greater weight on Powell's statement of benchmark hike than Trump's exchange rate policy. It need to wait the price breaks down bottom of triangle pattern, I think.
https://www.facebook.com/Gjallarhorn.report/
https://www.facebook.com/heimdallr999/
Gjallarhorn, Heimdallr, Euro, 헤임달, 유로화,
No comments:
Post a Comment