[EUR] Ahead of the Release of FOMC Meeting Minutes 2021 0818

 

cf. [EUR] Rebounding EURO II 2021 0804

cf. [EUR] Rebounding EURO 2021 0728

Gjallarhorn keeps the long position of EUR at the CME. The positions are under the loss.

The major currency pair EUR/USD retreated since this Monday. The worse economy score in US raised the currency pair last week, but these devalued the euro this week contrariwise. 

The US Core Retail Sales month over month released on Tuesday hit -0.4% worse than market expectation 0.2% and the previous 1.6%. The Retail Sales month over month was -1.1% worse than the market expecation, -0.2% and the previous 0.7%. This time it summoned the risk-off sentiment again, and the dollar rose.

Ahead of the release of FOMC Meeting Minutes, it is reported the risk-averse sentiment and the concern of the tapering support the greenback. And the proliferation of delta variation and Taliban's takeover Afghanistan supported the rising dollar, too.

The currency pair EUR/USD retreated and is in correction as the week began. The pair is supported on 20 Moving Average in the four-hour chart, around 1.1763 when Europe session begins, Tuesday. The EUR/USD reached 20 Moving Average in the daily chart, but it stepped down.

There aren't explicit patterns and signals in the charts, and the traders need to be interested in the economy news and the pandemic news as well as watching the chart.

The market participants expected the US economy's recovery, and they concerned the Fed's action such as the tapering, the hike of the benchmark interest rate. 

An expert diagnosed, as the global risk increases the dollar rises.

------------------------------------------

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