 |
| EUR/USD weekly chart, source: FXDD.com |
cf. [USDX] Still Rising Greenback 2019 1122
cf. [EUR] Rising Euro under the Downward Trend 2019 1115
cf. [USDX] Rising Dollar 2019 1109
cf. [USDX] Trying Rebound 2019 1104
U.S. dollar is under the influence of U.S.-Sino trade talks. As it seems not to be succeeded in this year, safe-haven asset gets momentum and greenback rises against other currencies except Japanese Yen and Swiss Franc.
The uncertain view about small deal makes investors to hesitate to buy risky asset.
Euro zone economy still doesn't work well, and the growth of companies in euro zone are still at a standstill. It burdens euro and makes dollar to rise.
A Forex strategist at UBS said, the combination of U.S. economy and euro zone's led greenback's rising.
And analysts at Danske Banks, expect the euro to trade at low levels for an extended period considering the indication of the Federal Reserve that would be on hold for now and the resilience in EUR/USD to global news.
Danske Banks team think, the US economy remains on a stronger footing than the euro area economy, and in the euro area, the manufacturing sector is under pressure from weak global investment activity due to the trade war, Brexit and weak global growth.
One of the major currency pair EUR/USD was 1.1022 end of the last week according to FXStree.com and euro futures at CME, Euro-FX 201912 or 6EZ19 finished the week recording 1.10340.
USDX, dollar index, dollar's value against the basket of major six currencies rose 0.26 percent to 98.25.
In weekly chart, currency pair EUR/USD is still under the downward trend line. And it failed to break through middle band of Bollinger Bands.
But we can find that euro prepares the rebound carefully in weekly chart. The support line is made as well as the downward trend line, and it tries to build double-bottoms pattern, trend-changing pattern.
There are two main downward trend line made in the monthly chart and the weekly chart, respectively. And it is hard to guess trend-turning to upward trend but we may expect euro's rising in short term, one-hour and four-hour chart.
-------
You can make a sponsorship for this report to PayPal kmuk001@gmail.com. Thank you.
e-mail - kmuk001@gmail.com
Telegram - @morgenluft
Telegram broadcasting - t.me/gjallarhorn_report
https://www.facebook.com/Gjallarhorn.report/
https://www.facebook.com/heimdallr999/
http://morgenluft.blogspot.com
#Gjallarhorn, #EUR, #euro, #EURUSD #걀라호른, #유로화, #유로
No comments:
Post a Comment