[EUR] Coronavirus and Euro 2020 0129

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

cf. [JPY] Rising Expected after Correction 2020 0126
cf. [EUR] Edge by Two Trendlines 2020 0124
cf. [EUR] Rebounding after Correction  2020 0123
cf. [USDX] Before Facing the Resistance 2020 0119

Falling euro rebounded yesterday. It tries rebounding on the support line. Some strategists think the scare of spreading pneumonia is soothed and risky-off positions are decreased.

One of the major currency pair EUR/USD is 1.1010 and futures, euro FX, 6EH20 in CME is 1.10435 as of 05:23(UTC).

The support line is found around 1.099 in four-hour chart of EUR/USD and 1.1033 in daily chart of futures, Euro FX, 6EH20. Falling euro succeeded to rebound above the support price band.

It isn't uncertain keeping rebound but it seems to be above the support line.

Euro as well as other risky asset will move by the news of respiratory coronavirus from Wuhan, China. And it is better to watch the global news about coronavirus spread. Though there are bad news to euro, the currency is more affected by

And FOMC meeting is planned this week. FOMC decide its benchmark interest rate at 17:00(UTC) Wednesday. Market participants expect the rate will be frozen, maximum 1.75 percent.

There are two major trend lines in weekly chart. One is upward and the other is downward. Upward support line is built since December 2016, and the other since September 2018. Two long-term trend line will soon meet each other and this event makes momentum very actively.

Gjallarhorn keeps long position of Euro FX in CME. It is under the big loss.

Gjallarhorn produces the report of EURO with Long bias now because it has Long Position of EUR.

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