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| EUR/USD four-hour chart, source:FXDD.com |
Before making the report, I think what position I will get in this situation. If I can't decide to get the long or the short position, I'll not be able to recommend a suitable position. I write the report but I'm a forex trader. If the chart don't give the clear signal or patterns, traders can't get the position, and I can't produce the report recommending the deal.
The trend line in the currency pair EUR/USD doesn't shows the clear pattern yet. In the unclear market, the optimal decision is just to watch the market till finding out the obvious signal.
The daily chart of EUR/USD moves up and down in the bollinger band and the four-hour chart seems to endeavor to make the price-down pattern, Head-and-Shoulders pattern. The pattern isn't completed yet, there is always the possibility of the failure of the pattern making.
In the one-hour chart, price began to rise along upper band of bollinger band. The pattern in four-hour chart doesn't give the strong signal in the chart.
If you are an assertive trader, you can expect the strong greenback, weak euro, expecting the Head-and-Shoulders pattern. But it is needed just to watch the market in this week.
On Friday the impact Forex events are scheduled, America will release Non-farm employment change and unemployment rate. It may be comport to postpone the trading till the economy indices are released.
The Forex events and uncompleted pattern will determine the direction of the currency pair, I think.
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Gjallarhorn, Heimdallr, EUR/USD, EUR, Euro, 걀라호른, 헤임달, 유로/달러, 유로화
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