"Positive Effects of Forex Price EUR/USD outweigh Negative Effects"

[sarahfx]

"The data released by the EUR zone was the combination of happiness and worry. The ZEW economy confidence index was better than the expected data, however, the industry output poorer than the expectation.
The forex price of EUR/USD still hit the record high of 1.3499 within the recent period of time in Europe hours. After entering into the American hours, the focal point of the market gathered to the retail data of the United States and the interest resolution of the Federal Reserve before the dawn.
Different from the employment data, the retail data of the United States was good; afterwards, the Federal Reserve published the interest resolution.
The Federal Reserve passed the resolution that to maintain the interval of 0 to 0.25 and the discount rate at 0.75 percent unchanged with the voting result of 10:1, moreover, to keep the 600 billion dollars scope of buying government bonds.
The double good resulted in that the forex price of EUR/USD dropped to nearby 1.3350 within the violent fluctuation. What deserved being concerned is the employment data of the third quarter in euro zone and the CPI data of the United States.
See the technical and four-hours chart below, it can be found that the trend stayed within the process of rising wedge.
At the moment, the tendency is forming a blue rising wedge, which needs the forex investors to watch that whether the forex price can go downwards and hit the blue trend line at the bottom.
On the other hand, if the wedge failed to form that, the forex price will be supported above 1.3329 and back to 1.3436 again.
The trading suggestions to the investors were to open a short position in short term at the resistance level and reference the support level and close the short position."