[EUR] Rebounding after Correction 2020 0123

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

cf. [USDX] Before Facing the Resistance 2020 0119
cf. [EUR] Euro to Rise Hoping Upward Trend  2020 0116
cf. [GBP] Short-term Downward Trend 2020 0113
cf. Expecting Euro and Sterling to Rise  2019 1230

Euro is trapped between support line and downward trend line. The support line in short-term act as a resistance line.

After the correction, one of major currency pair, EUR/USD is expected to exceed upper band of Bollinger Bands in one-hour chart and four-hour chart in order. But it may take time to reach 1.12.

One of major currency pair, EUR/USD moved with steady pace. Virus fear from Wuhan, China dropped euro and new expectation to ECB led by new president, Christine Lagarde supported euro.

And European Central Bank kept its benchmark rate, Main Refinancing Rate 0.0 percent on Thursday.

Gjallarhorn keeps long position of euro in CME. The profitable position turned into a loss.

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