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| EUR/USD four-hour chart, source:FXDD.com |
The currency pair EUR/USD plunges since last Friday. The pair formed the price-downturn pattern, Head-and-Shoulders pattern in one-hour chart and four-hour chart, and it began to fall.
It falls along the bottom band of Bollinger Bands, and it means euro keeps falling in hours.
The one of the major currency, EUR/USD broke through 120 exponential moving average in hours charts, respectively, but it sank below 120 EMA.
In the daily chart, the price has fallen to break through the downward trendline. It retreats after touching upper band of Bollinger Bands in the daily chart.
EUR/USD has tumbled below 1.0850 after the German constitutional court deemed some of the ECB action as unconstitutional, with details coming out. The US dollar is gaining strength across the board.
It is 1.0852 as of 12:50(UTC). It seems to retreat continuously in the short term.
The coronavirus pandemic still affects the financial markets. As well as the pandemics itself, the United States and China criticize each other about the origin of the pandemic outbreak.
Donald Trump, US President spoke the virus broke out from the laboratory in Wuhan, China and he implies the retaliatory tariffs on Chinese goods, again.
The possibility of US-Sino Trade War Round 2 shocks the markets.
Gjallarhorn liquidated the long position of euro-fx in CME. It will just watch the market till non-farm pay rolls.
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