 |
| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Coronavirus and Non-Farm Payrolls 2020 1002
cf. [EUR] Euro on the Corssroad 2020 0926
Gjallarhorn holds the Long position of euro in the futures market, CME. It still records the loss.
One of the major currency pair EUR/USD broke through the downward trend line in the four-hour chart and hovers below 1.18.
The currency pair was in the correction for a week due to the fear of the re-proliferation of COVID-19 and succeeded to rebound last week. The price exceeded 20 Moving Average at first in the daily chart and it gives the positive signals to euro. Though it fluctuates in Bollinger Bands in the daily chart, it can reach to 1.1895.
It is not uncertain whether it breaks through 1.20, yet. But Gjallarhorn expects there may be a attempt to do it.
And the two-weeks-ago correction was supported on 1.16, it gives a cue of bullish euro in short-and-mid term.
Dollar Index which shows dollar's value against the six major currencies fell 0.25 percent to 93.461.
Ahead of Wall Street’s close, the US President Trump said he would be leaving hospital later in the day, as he feels 20 years younger. He added he would leave the hospital at 06:30(EST, 22:30 GMT) on Twitter. And the number of new contagions among White House staff rose.
His leaving the hospital stimulated the risk-on. US President Donald Trump who was positive for COVID 19 in last week leaved the hospital and returned to the White House on late Monday(GMT).
The expectation of the agreement of the additional economy stimulus helped the market, too. The Treasury Secretary, Steven Mnuchin and House Speaker Nancy Pelosi failed to get the agreement but they continued the negotiation by the telephone, Yonhap Infomax, economy news agency reported.
Meanwhile, analysts at Eurizon SLJ are reported to anticipate EUR/USD falling to 1.13 by the year-end, as the European Central Bank (ECB) is likely to boost easing in response to the low and declining inflation trend.
Eurozone core consumer price index declined to a record low of 0.2% in September. The second quarter's sharp fall in Eurozone labor compensation suggests the core inflation reading could fall further.
-------------------------------
Gjallahorn does not provide any signals, but tries for traders to get the 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/
http://morgenluft.blogspot.com
#Gjallarhorn, #EUR, #euro, #EURUSD
No comments:
Post a Comment