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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] The bearish EURO after FOMC 2021 0923
cf. [EUR] Inflation and Bullish Dollar 2021 0919 https://youtu.be/rlpwVvky3xs
Hello, Gjallarhorn. The reports from Gjallarhorn are produced by a trader, not by an analyst. The reports are provided to the investors showing the trader's view on the market.
Gjallarhorn has the short bias on the euro.
The currency pair EUR/USD retreats since September. There were some rebound but it is still on the bearish trend.
The pair broke down below 1.16. The chart supports the short bias on EUR/USD though there will be rebound over 1.16.
As Fed's comments are interpreted as hawkish, the dollar index rose. The dollar index tracking the dollar against the basket of the major six currencies rose 0.75 percent to 94.406 on Wednesday. It has touched 94.431, the record high for 11 months.
The talk about the U.S. government's debt margin in the difficulty and it made the investors get the risk-averse sentiment.
Janet Yellen, the U.S. Treasury Secretary spoke the failure of the negotiation might call the default of the US government for the first time at the parliament committee. She warned the failure might raise the interest rate and the unemployment rate.
Jerome Powell, the Chair of Federal Reserve told the inflation could continue till the next year.
Meanwhile Eurozone also concerns the inflation, it is reported that the tapering is reviewed in Eurzone, too. Whenever the reports on the possible tapering in Eurozone, the euro has risen.
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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.
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