The four-hour
chart of currency pair, ‘EUR/USD’ has shown ‘V pattern’. It means the surging
price of currency pair, and euro price has rocketed.
The sudden rising
of price is due to U.S. President Donald Trump’s tweet of more tariffs being
imposed on Chinese goods. His expected action may make worse the world economy,
market think.
This ‘V pattern’
seems to succeed to make the pattern and trend-turning to upward, because the
price of currency pair, ‘EUR/USD’ broke 1.1200 in futures market.
But we need to
remind that ‘V pattern’ is less reliable than ‘double-bottoms pattern’ and ‘reverse
Head-and-Shoulders pattern’. The price has enough possibility of falling in
other words dollar long.
If we recall the
price of euro recorded historical low since global finance crisis, weak dollar
is supported again.
And we should know
ECB, Europe Central Bank plans Quantitative Easing in the year.
The explicit trend
of price is not shown yet.
No comments:
Post a Comment