[USDX] Before Facing the Resistance 2020 0119

USDX, four-hour chart, source:FXStreet.com

cf. [EUR] Euro to Rise Hoping Upward Trend  2020 0116
cf. [GBP] Short-term Downward Trend 2020 0113
cf. [USDX] Correction After Rising 2020 0111
cf. [EUR] Euro expected to Though Iranian Attack  2020 0109
cf. Expecting Euro and Sterling to Rise  2019 1230


Dollar Index has broken through the downward trend line in four-hour chart, it was 97.62 on weekend.

To keep its upward trend, USDX should  exceed the previous peak 97.7x at first. Greenback's value against the basket of major six currencies, dollar index failed break through 97.8x since last December.

Dollar index kept rising due to the good economy records in the last week. Retail Sales and Housing index released last week showed US economy still kept soft landing. And economy top two, the United States and China signed the trade talks on last Wednesday. They supported greenback.

Euro zone economy begins to recover but the US's is better.

After the signing of US-Sino trade talks, market participants concern the next round, trade-tariff war between US and EU. An EU economy official criticized the first-tier signing between the US and China and made reference to retaliate if the US imposes the tariffs on European products. The anticipated trade tension made euro to fall 0.4 percent.

It would make dollar up and USDX rises exceeding 97.75.

Global economy was expected to support risky asset such as euro and pound. But still uncertain circumstance makes investors to hesitate their action.

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

-------
You can join telegram channel t.me/gjallarhorn_report .

If this report was helpful to you, please support it. The amount of your support is up to you.

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,#USDX, #dollarindex, #걀라호른