[EUR] Long bias to Euro in Short term 2019 1013

EUR/USD, four-hour chart, source:FXDD.com

cf. [EUR] Short Bias to Euro 2019 1006

The expectation of U.S.-China trade talks in Washington D.C. supported the risk asset and one of the major currency pair EUR/USD and  Euro FX, futures of euro.

The currency pair, EUR/USD is 1.10145 and Euro FX-201912, 6EZ19 hits 1.10640 as of 04:23(UTC).

Donald Trump, U.S. President told he would meet Liu He, China vice premier in White House on Friday and it made market participants watch market in an optimistic mood.

But the conclusion of the top-level U.S.-China talks is not certain yet because the talks doesn't reach any agreement. Nothing is clear.

If top two economies get any agreement, it will boost risk asset and euro rises.

After FOMC meeting minutes was released on Wednesday, euro began to rise and succeeded to broke trough downward trend line in four-hour chart. The positive economy news and the expectation of Fed's interest-cut in the late month leads euro.

In technical view, euro seems to keep rising. It can rise over 1.1124, 120 exponential moving average in the daily chart and 1.1235, downward trend line made in daily and weekly chart.

Before it reaches the resistance line and downward trend line, we need to watch whether it breaks through previous resistance price band and upper band of bollinger band, 1.1079 in the daily chart. If it fail, short bias to euro is still available.

















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