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Pressure from the dollar on the euro continues - with EURUSD falling to a yearly low of 1.1500 at the end of last week. At the moment, the pair is trading at 1.1392.

According to the chart, it appears as though an inverse head and shoulders is forming on the daily timeframe (D1):



The image shows that currently EURUSD is making its first attempt at a breakthrough of the neckline. I first mentioned this almost two months ago in my online currency market reviews.

I want to note that the current head and shoulders pattern which has formed on the chart appears quite promising. First, the left shoulder is significantly higher than the right shoulder. Secondly, the neckline is not horizontal, it goes down. Therefore, it seems to me that in the coming months the probability that we will see significantly lower levels on the EURUSD pair is quite large. I'll be sure to write about it should my forecast change. Source: alpari.com/en/beginner/articles/trading-strategies/

The reason behind the dollar's strength would be the government, willing to hold the dollar in their foreign exchange reserves. Governments would be also acquiring currencies from their international transactions.

The dollar is considered to be the universally accepted currency, and hence it is good to invest in it.

Yes, the article is quite nice and it been quite helpful for the traders in here to get the insight of Forex Trading.

Dollar is one of the strongest currency online, but again it depends on the Market trends about how to make identify the favourable times for the currency pairs.