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| EUR/USD four-hour chart, source:FXDD.com |
International Monetary Fund, IMF adjusted its world economy growth in the year to 3.5 percent which was lowered 0.2 percent point comparing to expectation three months ago. And Christine Lagarde, IMF Managing Director warned the global recession at World Economy Forum, or Davos Forum.
The uncertainty of world economy stimulates investors to be more interested in safety asset such as gold, greenback.
During the last week, price of the currency pair, EUR/USD plunged and failed to break through the upper band of Bollinger Bands. Whenever it faced the upper band, it moved back in one-hour chart. Four-hour chart of EUR/USD showed the Head-and-Shoulders pattern, a typical price-fall pattern.
It may be hard to say the rebound of the price.
But the pattern is to be built, plunge is over and it may rebound for short term.
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