[EUR] Still Short Bias 2019 1129

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

cf. [EUR] Preparing Rebound II 2019 1126
cf. [EUR] Preparing Rebound 2019 1124
cf. [USDX] Still Rising Greenback 2019 1122

The euro is likely to move to either side within a few weeks.

This is because the euro is moving between a narrowing resistance and support line. The movement of the euro is decreasing, which can be interpreted as the accumulation of energy.

But it seems strongly euro to fall after touching 1.1018, 120 exponential moving average in one-hour chart.

But long-term trend is still downward, we need to watch the market with short bias.

If it exceeds the downtrend line made in weekly chart, it could rise over 1.1199 or upper band of Bollinger Bands, and it may reach to 1.1386, 120 exponential moving average.

Donald Trump, U.S. President signed the Hong Kong Human Right Act on Wednesday, and China has a big backlash. The small deal between economy top two is likely to be difficult.

Thus, the dollar will move with US Treasury yields, and the euro and euro-FX will move accordingly.

The currency pair EUR/USD is 1.1010 and futures, euro-FX 201912 is 1.10210 as of 04:09(UTC).


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