 |
| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Euro in the Correction 2021 0217
cf. [EUR] Fluctuating EURO 2021 0213
cf. [EUR] Rebounding Euro 2021 0209
Gjallarhorn keeps the long position of the euro in the futures market and records the loss.
One of the major currency pair, EUR/USD plunged in the week.
The pair failed to succeed to break through the downward trend line yet, and it has stepped down.
The charts of EUR/USD supports the euro may continue to fall, but it also give the clue of the rebounding. The one-hour chart shows the diving euro begins to rebound, and the daily chart tells the euro still tries to break the bearish trend line.
The traders need to watch the euro whether it break through the bearish trend line clearly which shows the next step.
The Fed reasserted the QE policies till the goal is completed, again in the meeting minutes. But the dovish meeting minutes of FOMC released on Wednesday did not supported the falling euro. And the rising U.S. Treasury yields boosted the dollar. It rose to 1.3 percent and reflected the concern about the inflation while the economy recovery. The market bet on the reflation.
The positive outlook on the U.S. economy than the EU's devalued the euro.
Meanwhile, BD Swiss Group have thought the bearish dollar. The market continues the rally and Fed won't change its monetary policy, and a MUFG analyst expects, the greenback would be bearish for some weeks.
But the analysts at Danske Bank anticipated EUR/USD at 1.22 in the first quarter and looked for a decline to 1.16 in the year. Because the U.S. economy growth will be better than that in Euro zone, it make the euro down for a year.
EUR/USD thus faces structural decline due to a lack of competitiveness. A valuation reversal (lower EUR/USD) could come from rising US real rates, fading EU optimism, or Chinese slowdown, Danske Bank analysts have said.
------------------------------------------
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