[EUR] Correction expected in Short term 2018 0519

EUR/USD one-hour chart, source:KR Futures

cf. [EUR] Rebounding Price 2018 0509 /[EUR] In the Mixed Zone 2018 0506

The economy news hints the strong U.S. dollar. US Treasury yields surpassed 3 percent and it made the plunge of currencies of emerging countries. The Middle East issues raise crude oil prices, such as Brant oil, WTI, and Dubai oil. We can predict the downtrend of EUR/USD and the long-term charts signal Short position, buying greenback and selling euro.

But we need to acknowledge the price of currency pair oscillates and shows up and down. Though the trend is shown explicitly, the price often goes back.

The market participants need to prepare the correction after the trend. The one-hour chart attempts to make double-bottoms pattern and reversely set moving average lines hint the correction. It may go back 1.1830s, 120 exponential moving average line. It matches the upper band of bollinger bands. Its size is very small in daily chart and weekly chart.

Long position or short position? The participants' capital volume may determine the position. If you are in a small boat, you should be very careful. And if in a carrier, you can sail in a storm.


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