 |
| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Hoping Rebounding of Euro 2020 0420
The currency pair EUR/USD moves steadily lowering its peaks and declining the slope of the support line. But it has been supported above 1.08, and it fluctuates in the channel from 1.0800 to 1.0890.
The pair doesn't show an explicit trend, and it seems to accumulate energy for jumping to any direction.
However, it is a burden that the peaks lower and the slope of the price support is slowing down. Euro failed to touch 1.10 and retreated for a week.
In the four-hour chart of the pair, it is confirmed that euro is supported on the price band of 1.08.
The downward 20 Moving Average and 120 Exponential Moving Average in all charts of the currency pair EUR/USD imply the bearish market, but we can guess its rebound above 1.08s.
As well as Forex market, we need to watch energy market and the pandemic news, too.
Futures of WTI crude oil 2020-05 plunged below zero recording historical low, and the roller-coaster price of its 2020-06 stays under 15 dollar, now.
The diving oil price makes greenback rise. It is the burden to euro.
The currency pair fell and dollar index, greenback's value against the basket of major six currencies reached over 100 to 100.375 on Wednesday.
As crude oil price rebounded, risk-off deal weakened and dollar retreated.
The unemployment claims is released Today. The indicator has high impact on Forex market recently and it is anticipated to be 4.3 millions.
Therefore we need to watch the Unemployment Claims released on Thursday. And the very effective index on euro, German Ifo Business Climate is released on Friday, it is expected to be 79.7, previous 86.1.
Gjallarhorn has a long position of euro-fx in CME and it records loss, now.
----------------------------------------------
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, #EUR, #euro, #EURUSD
No comments:
Post a Comment