[EUR] Expecting Rebound 2019 0211

EUR/USD four-hour chart, source:FXDD.com

cf. < [USDX] Correction anticipated 2019 0210
cf. < [EUR]   Still Uncertainty  2019 0201
cf. < [USDX] Keeping Long 2019 0124
cf. < [USDX] Turning to Dove 2019 0107

One of the major currency pair EUR/USD has dived since last day of January recording 188-pips loss. In hours charts, the price failed to break through 20 moving-average line, or middle band in Bollinger Bands and just slid along bottom band of Bollinger Bands.

The four-hour chart of the pair showed the typical double-tops pattern, price-down pattern.

We know empirically that currency doesn't move one direction without up-and-down movement. The recent picture hints the rebound of price.

The price is also able to rise to its 120 exponential moving average, 1.1365 over in one-hour chart, short term.

But euro zone is under the recession risk. It leads euro down. Euro loses its power and has difficulty to rise. And if it succeed to break through 20 moving average in four-hour chart, it can continue moving up. But it may be difficult to move over 1.15 due to the downward trend line.






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