[EUR] Euro Retreats 2020 0513

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

cf. [EUR] Long Bias to Euro II 2020 0513
cf. [EUR] Long Bias to Euro 2020 0511
cf. [EUR] Retreating Euro 2020 0505

The one of the major currency pair, EUR/USD has tried to break through 1.10 but it failed till now.

After the currency pair failed to exceed 1.10 on Thursday, it retreats. It is expected to fall along the bottom band of Bollinger Bands and it may retreat to 1.0878 which was the peak and resistance price band in mid May.

The price of 1.0871 is 20 Moving Average in the daily chart, and the price band, 1.0871~1.0877 could be a strong price support band.

There aren't an explicit patterns and signals, and it is better just to watch the market till the entry signal is shown. As of now, neither short or long positions are recommended.


Gjallarhorn got the long position of futures, euro-fx. It is liquidated in September.
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