[EUR] Facing Resistance Line 2019 1103

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

cf. [USDX] Ahead of Fed Decision 2019 1030
cf. [EUR] Euro in Correction 2019 1024
cf. [EUR] Rising Euro after Correction 2019 1021

Non-farm Payroll released on Friday hit 128-thousand increasing higher than expected 90-thousand increasing. It led New York stock market up and Treasury note down, and greenback was in mixed.

One of the major currency pair, EUR/USD fell a bit due to positive Non-farm payroll. Non-farm payroll showed U.S. economy is still good comparing euro zone and devalued euro.

Federal Open Market Committee, FOMC cut the benchmark interest rate 25bp and Fed Chair Jerome Powell spoke there wouldn't be rate cut for a while, and currency goods of USDX, currency pair, futures and etc. fell against other currencies.

Mixed economy prospect put greenback in steady. USDX, dollar index hits 97.21, currency pair EUR/USD is 1.11634 and euro FX-2019 12 or 6EZ19 is 1.11965 at the end of last week.

Goldilocks in U.S. shows its termination with bad economy indices step by step. Advance GDP in third quarter hit 1.9 percent below 2.0 percent. But other economy equities have worse record than the United Sates. One of G2, China loses economy energy scoring 6.0 percent of GDP in third quarter historical low in 27 years. Euro zone is still under 1.0s percent GDP growth.

Greenback still appeals.

Currency pair EUR/USD faces the long-term downward trend line which began one year ago. The trend line seems to be a resistance line and will be broken through at one go. There will be several tries of exceeding the resistance line though euro rises.

Four-hour chart of the currency pair attempts to build the double-tops pattern which implies price down.

Positive U.S. economy and euro zone preparing Quantitative Easing support strong dollar and euro which facing the resistance line will fall.








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