 |
| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Risk-on Sentiment 2021 0826
Gjallarhorn keeps the long position of EUR at the CME. The positions are under the loss.
The rising currency pair EUR/USD retreated and is supported above 1.18 in the Asian session. And it is still above 20 Moving Average in the four-hour chart. It broke above 20 Moving Average and approaches to the upper band of Bollinger Bands in the daily chart though the correction. And the investors still expect the bullish euro against the dollar in short-and-mid term.
The 120 Exponential Moving Average in the daily chart is 1.1894 and the price is 1.1799 now.
As Fed Chair Jerome Powell told the tapering would be decided by the Non-farm Payrolls at the Jackson Hole Symposium, the investors watch the market awaiting the Non-farm Payrolls on Friday. The dollar moved in the narrow band.
Dollar Index tracking the greenback against the currency basket of major six currencies was 92.675 on Tuesday, and Dollar Index Futures is 92.763 or 0.14 percent rising as of 02:23(GMT).
The currency pair EUR/USD edged high because the CPI in Eurozone rose 3 percent recording high in ten years. The market expected 2.7 percent increasing.
European Central Bank (ECB) policymaker Klass Knot signaled that the central bank might start reducing the pace of the Pandemic Emergency Purchase Program (PEPP) as reported by Reuters.
Investors turn their attention to German Retail Sale data, US ADP Employment, and ISM Manufacturing Purchasing Managers Index (PMI) data to take trade insight.
The head of foreign exchange strategy at EBC, Eric Breger diagnosed the euro might rise again if the Non-farm Payrolls would be disappointed. He added the disappointed Payrolls would support the dovish Fed.
------------------------------------------
Gjallahorn produces the reports by the trader. And the reports reflect the trader's view.
Gjallarhorn 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