A few days ago, there are many currencies that experienced derivation. Most of them got down in the Europe session trade. They definitely defeated by USD. Those currencies include The Euro, Pound Sterling, Dollar Australia and Canada. Even if that USD keeps strong, it also happened derivation in of it. But then the trading world keeps on going.

We couldn't expect what happens in the trading world. Everything could happen at any time. Like these few days, many currencies are getting stronger, especially Euro. On April 26, Euro back to its higher level after it got down to the lowest level at the day before. It's happened because of the profit taking action.

The Things That Actually Happened at the Euro

Last Friday, The Euro traded to the US Dollar as much as 1,1140 and got up in the level of 0,8628 towards Pound sterling. But this condition is not last long because Euro may still get down anytime because it still gets a negative sentiment which showed about the sign of economic deprivation. That's why the Euro still need to be aware.

There is a possibility which can make the Euro come back to its lower level as yesterday. It is because the US GDP is going to wake up more and defeat the Euro. But it will not happen if the data has not released yet from the prediction in Forex Factory as much as 2,2%.

At the time frame 30 minutes, EUR/USD was on the Moving Average 5 and 21. But it was still under the MA 125. So far, the closest resistance is in 1,1170 and it is closer to the MA 125. As long as the Euro doesn't reach more than that level, the EUR/USD still can reach the support level in 1,1120.

How Much Euro Get Higher in its Currency?

In this temporary time, the Euro was getting up 0.30%in the 1.1162. But there was still intraday bias which keeps the bearish risk as long as the traded price is under 1.1175 to test the support in 1.1116/1/1100. In the upside, the break above 1.1175 is needed to decrease the bearish pressure and to open another opportunity.

This opportunity is needed to extend the rebound into resistance 1.1200 and 1.1230. besides, the Euro keep going down because of the strength of the US Dollar currency. It seems like the US Dollar could be a threat to the Euro movement. And this has been proved by another derivation that happens in Euro in the next day.

Euro Returns to Downgrade

If we were talking that Euro was getting higher in its value, then it's different today. For the traders, it might be a little bit shocking. It was because after having an improvement up to 0,0012 or + 0,11%, Euro seemed to be down again. It's knowing that the Euro is in bearish condition and going to shape a triangle wave.

Bearish is a condition where the trading price tends to be down continuously in a certain period. Bearish refers to the global market condition as a whole, such as the business sector, asset financial price, or a certain sentiment. Besides, bearish can also used to portray the derivation of currency, and the strengthen quote currency, for example, Euro and US Dollar.

And, talking about bearish, Euro is definitely going to bearish into 1.1066 after it has experienced the bullish as much as 1.1312. it is because the economic condition of US is going stronger and stronger in any sector. But even if that Euro came back to the downgrade, it still has a chance to improve again.