[EUR] Rebounding EURO 2021 0113

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

cf. [EUR] Euro in the correction II 2021 0111

cf. [EUR] Euro in the correction 2021 0107

cf. [EUR] The Correction of EUR in the Short Term 2021 0104

The currency pair EUR/USD succeeded to rebound at 1.2130 and keeps rising. It exceeded 120 Exponential Moving Average in the one-hour chart and 20 Simple Moving Average in the four-hour chart respectively.

It can rise to 1.2250 of the upper band of Bollinger Bands in the four-hour chart. But we need to watch the chart more carefully, because there may be one more correction.

The rising dollar retreated as the U.S. Bond yields fell. The yields rose before the President's inauguration of Joe Biden. It has been expected that Biden President-elect and the major Democratic Party will approve the more fiscal stimulus package. The long-term yield has risen sharply.

The Dollar Index which tracks the greenback against a basket of major six currencies stepped down 0.08% to 89.940 by 02:51(GMT).

The majority of the forex analysts expect the weak dollar which dropped near seven percent in the last year, as they anticipate the stimulus and the recovery of the global economy in the year, Yonhap Infomax reported on Wednesday.

Meanwhile FXStreet.com supports the bearish bias in the mid term and long term showing the major result of the poll is bearish in one month and one quarter. But Gjallarhorn still keeps the bullish bias of the currency pair EUR/USD.

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