EUR/USD exchange rate chart on a 4h time scale, highlights a large Double top pattern, while a small head and shoulder pattern also could have been lately the confirmation signal of a €uro depreciation in the near term.
Between the intraday exchange rate EUR/USD 0.9947 and the POC in the chart EUR/USD 0.9779,
there would be an intermediate point of control at EUR/USD 0.9885.
Considering the overall channel structure of the EUR/USD exchange rate chart, important to factor in the moving average line as a technical factor
The overall trend would be STRONG USDOLLAR weaker EURO.
Between the intraday exchange rate EUR/USD 0.9947 and the POC in the chart EUR/USD 0.9779,
there would be an intermediate point of control at EUR/USD 0.9885.
Considering the overall channel structure of the EUR/USD exchange rate chart, important to factor in the moving average line as a technical factor
The overall trend would be STRONG USDOLLAR weaker EURO.