[EUR] Coronavirus and Non-Farm Payrolls 2020 1002

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

cf. [EUR] Euro on the Crossroad 2020 0926

cf. [EUR] Unstable Euro in the Pandemic 2020 0922

cf. [EUR] Rising Euro Ahead of FOMC  2020 0915

Gjallarhorn holds the Long position of euro in the futures market, CME. It still records the loss.

There aren't the explicit pattern and the signal in the four-hour chart of currency pair EUR/USD. There is a downward trend line and the price of the pair fluctuate below 1.176x.

The four-hour chart suggests last week that the euro might rebound technically in the week. We can expect the euro may rise against dollar to 1.1725 at first. 

But the one of the major currency pair EUR/USD fluctuates.

The currency pair has the job of exceeding 1.20 level. The price of 1.20 is meaningful and the resistance against breaking-through is strong. The downward trend line which has been effective more ten years is on some 1.20 these days. The exceeding 1.20 means that the price breaks through the main downward trend line, and the greenback enters bearish period.

US Non-Farm Payrolls is released on Friday, and the market expects it may increase 900 thousands, and it increased 1.3 millions in August. Non-Farm Payrolls may amplify the volatility of the euro

Meanwhile US President Donald Trump and FLOTUS were tested positive for coronavirus and they are quarantined on early Friday(GMT). Trump's infection lowers the prices in the market, now.

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

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