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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Rising Euro in Short Term 2019 1202
cf. [EUR] Still Short Bias 2019 1129
The currency of euro zone, euro rises in spot market as well as futures market. Futures, EURO-FX 201912 or 6EZ19 is 1.11005, 0.14 percent high and currency pair EUR/USD is 1.10939 as of 11:35(UTC).
One of the major currency pair, EUR/USD is likely to rise to 1.11617 or upper band of Bollinger Bands and the latest value of trend line. Euro succeeded to exceed 120 exponential moving average in the four-hour chart and we are able to expect more rising of euro. The first goal is the upper band of Bollinger Bands in the weekly chart and it's 1.11617 as mentioned above.
And it is previous high and peaks of double-tops pattern in the daily chart.
But it isn't mean that euro has begun to rally. Euro zone economy is still bad and the United States' is not on the other hand.
Though dollar Index, dollar's value against the basket of major six currencies falls, it affects emerging markets' currencies not euro.
We need to still watch the euro with short bias in the long term.
Small deal of U.S-Sino trade talks affects greenback positively at this time. The expectation of the deal has raised dollar against Japanese yen and euro.
And we need to watch Friday's Non-farm payrolls, too. Market expects 186 thousands increasing, and 128 thousand payrolls increased in November report.
Gjallarhorn doesn't have any position on euro. Because book-closing is coming. The position will be gotten in next year.
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