[EUR] Euro in the Correction 2020 0624

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

cf. [EUR] Unstable Euro 2020 0619
cf. [EUR] Steady Euro 2020 0614
cf. [EUR] Rising Euro After the Correction 2020 0608
cf. [EUR] Preparing the Correction 2020 0604
cf. [EUR] EUR May Rise in Short and Mid-term 2020 0601

Gjallarhorn has no position after the liquidation of the long position of futures, euro-FX, and watch the chart to find the entry point.

The currency pair EUR/USD which fell to 1.1167 succeeded to rebound and tried the rally. It failed to exceed the previous peak and is in the correction term.

The price keeps upward in the four-hour, daily and weekly chart, it supports the long bias of euro against dollar. If a long position is gained, it is reasonable to set stop-loss price at 1.1231s, 120 exponential moving average in the weekly chart.

A long-term indicator is about to turn bullish for the first time in three years, EUR/USD’s daily chart shows, FXstreet.com reported.

And it is recommended to watch whether price is supported at 1.13, too.

If the price of the currency pair EUR/USD falls, the price-down pattern, double-tops pattern is made in one-hour chart. The price 1.1250 which is 120 exponential moving average in the four-hour chart is needed to be checked as a support line and entry point.

Meanwhile EU leaders meet on July 17 and 18 and try the final agreement about Europe recovery fund package. They will discuss EU MFF, spokesperson of European Council said on his twitter.

Some countries in Euro zone have been opposed the supporting way of the recovery fund by European Council, and it has been doubted the package will be passed in the committee.

---------------------------------------------
Gjallahorn does not provide any signals, but tries to bring traders to gain insight into the market.

You can ask by messenger and e-mail.
Facebook messenger and telegram(@morgenluft)
e-mail - kmuk001@gmail.com

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