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| EUR/USD four-hour chart, source:forexfactory.com |
The price of currency pair, EUR/USD has fallen breaking through the trend line in the weekly chart. But the correction has been shown and left hints on the end of the downward trend.
After the price fell below 1.16s, it tried the the trend end and turn of the trend. In the four-hour chart, the currency pair made the V pattern and succeeded the price rise. And it broke through the downward trend line.
It's uncertain whether the pair changes the trend or just makes the correction in the technical analysis. And we need to watch the market more before deciding the bias of long or short.
The economic situation and economy news may give hint. Euro-economy is still in the uncertainty such as Italexit problem, economists and analysts predict the hike of U.S. benchmarkt interest rate in this month and some emerging markets' currency loss their value. They support long bias of greenback.
And fundamental analysis hints the currency pair's price rises but it just meets the correction. The short bias for euro is available but the price may rise over your stop price.
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Gjallarhorn, Heimdallr, EUR/USD, EUR, Euro, 걀라호른, 헤임달, 유로/달러, 유로화
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