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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Rebounding euro II 2020 0204
cf. [EUR] Rebounding euro 2020 0201
cf. [EUR] Coronavirus and Euro 2020 0129
One of the major currency pair EUR/USD keeps falling and we need to watch the currency pair more carefully whether the pair is bought or sold.
Open Bollinger Bands implies the downward trend is kept in one-hour chart and four-hour chart for a while.
Surged euro retreated last week. Gjallarhorn expected recovery of euro keeping its momentum, but it was incorrect analysis.
Also, we should watch the price of the pair reached bottom band of Bollinger Bands in the weekly chart. Below the trend line, there is possibility of rebound
Euro of FX Margin and futures is between two trend line of up and down and it is edge of two trend line. It's time to surge or plunge. But the recent geopolitical and economic news are very negative to euro.
The US Non-Farm Payrolls showed 225-thousand increasing on last Friday. The market anticipated 160-thousand increasing. Better record than forecasted boosted US dollar and lowered Japanese yen and euro.
The nCoV(new coronavirus) outbreak has threatened risky asset such as crude oil and euro. And euro plunged being contrary to expectation of euro-up.
As scare of epidemic is soothed, investors' risk-off is eased, too. But euro is still under the downward pressure. Aussie, Kiwi and the other risky currencies rose but euro still falls.
Euro zone economy is dependent of the export to China, but the recession risk of China leads euro to plunge, some economists analyse.
Medical experts forecast this nCoV will spread for month. It is very unfamiliar to euro.
As you watch the chart and read this report, you can find that Gjallarhorn usually uses four-hour chart. Some traders may think the report is available in short term, another does in long term. The others will do in the mid term.
Gjallarhorn keeps long position of Euro FX in CME. It is still under the loss and is concerned to worry Stop Loss seriously.
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