EUR/USD is one of the major pairs, which is trade by millions of traders. Often we are confused about sudden changes in its trends.
Here in this post series, we are trying to cover a couple of factors, which are responsible for up and down in this currency pair (based on technical analysis of EUR-USD).
Let’s take a look at Monthly Candle Chart of EUR-USD from 2006 to 2017
Here in this chart, you can see in the session of 2006 – mid of 2008 there was an uptrend and from the mid of 2008 there was a bearish trend which ended in starting of 2009.
These chart patterns are seen like someone has bounced a ball in 2006 and which find a bottom in the first mid of 2008. And then again it bounced from the second mid of 2008 which another bottom in 2010 and this process is continued to 2017 where you can see a bounce from starting of 2017 where EUR-USD find a top in the third quarter of 2017 and start searching for a good bottom for another bounce.
Now in 2017-2018, EUR-USD is in the price range which is quite similar to 2006-2007. We can see similar candles patterns, which was occurred in 2006-2007. But right now it seems like that EUR-USD is looking for a bottom from where it can take a bounce.
There is one more factor working behind the next big bounce of EUR-USD is political and economic growth and future of both currencies.
Stay with us for next update on this post where we will try to reveal the current trend of EUR-USD and predicted trend as we know history repeats itself. And for low-risk trading book our free trial of Experts Forex Signals