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| EUR/USD 4-hour chart, source:forexfactory.com |
After the chart of EUR/USD formed the double-tops pattern from late November to early December, the price of euro dedlined to 1.1739 in four-hour chart. It repeated the decline and suceeded to bound. Fed decided to raise its fund rate on December 14 on Asia timezone, euro has continued its upward trend.
It seems to continues its trend though there may be an adjustment in January according to the four-hour chart. But the weekly chart of euro shows the other signal. One of the major currency pair EUR/USD has risen since the year. It broke through 1.20 in early September, and approaced near the peak after the adjustment in late November. It's uncertain that the price chart is going to form a peak of double-tops pattern or continue to rise.
We need to watch the chart more carefully whether it continues the trend or turns down making the double-tops pattern. Not only the chart, but also economy news we need to be interested in. President Trump decided the cut of corporate tax to boost the economy and Federal Reserve noticed more rise of benchmark interest rate in next year.
I don't predict the price in next month and next year, of course. The traders don't forecast the market but cope with the market.
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