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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] 2018 0702 01
The support line in currency pair EUR/USD chart since late 2016 is shown to operate well in the weekly chart and the daily chart. This support line implies the price of the pair may rebound. But is that all?
The downward trendline since 2008 is still available in this year, and the upward trendline since last 2016 failed to break through the downward trendline and faced the correction.
The daily chart has made the triangle pattern using the support line as a bottom line and the pattern foretells the sharp price fluctuation. I think the price moves upward and will be tested its trend at 120 exponential moving average in daily chart. If it succeed, it's likely that the price is test whether to continue the trend around the grand trendline.
The moving average lines in four-hour chart aren't in arrangement proportionally and show confused array. It implies to us there isn't explicit trend. It's not recommended to get the bias explicitly. It may repeat up and down in some channel or bollinger band.
It may be better just to watch the market till the trend is shown explicitly.
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Gjallarhorn, Heimdallr, EUR/USD, EUR, Euro, 걀라호른, 헤임달, 유로/달러, 유로화
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