[EUR] Long Bias But Watching More Carefully 2019 0716

EUR/USD Daily Chart, source:FXDD.com

cf. [EUR] Powell's hint 2019 0711

Federal Reserve Chair Jerome Powell speaks at 17:00(UTC), Tuesday. He has hinted the benchmark-rate cut during his testimony in U.S. Congress. His planned speak seems to lead weak dollar as he did in last week.

And U.S. President Donald Trump supports weak dollar.

Market participants expect U.S.  benchmark rate is cut 25bp(0.25 percent) in late July.

But it's not certain that greenback moves on the downward trend. Not only Trump but also economy leaders in euro zone support their currency is weak.

ECB President Mario Draghi and Christine Lagarde, the president-nominee support the Quantitative Easing and it leads euro's diving.

Both of them support their currency down, it makes the trend uncertain.

Though Powell's comments and FOMC's release on July 31 make greenback to plunge, the appearance of the weak dollar trend is not certain, yet.

The daily chart of currency pair, eur/usd shows the attempt of euro's rising, making support line higher. It seem that the currency pair changes its trend to upward.

The signals from the different sources don't indicate the same. And the price moves up and down in the narrow band.

We need to watch the market more carefully.






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