Saturday, 30 October 2021
Wednesday, 27 October 2021
[EUR] The bearish EURO 2021 1027
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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Dollar in the Correction 2021 1014
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 one of the major currency pair, EUR/USD touched 1.1660s but retreated below 1.16. The currency pair exceeded 20 Moving Average once but it fell under the 20 MA and reached the bottom band of Bolligner Bands in the four-hour chart Tuesday. The pair fluctuate between the bottom band and the 20MA as Wednesday began.
The current price band of the pair has been the resistance against the euro in mid October, and it is expected to support the euro this time. But it is likely broken soon.
The euro fluctuates in the Bollinger Bands in the one-hour chart.
It seems the pair to keep the bearish trend in short term and mid term.
As the market participants still expect the hawkish Federal Reserve, the dollar advanced on Tuesday. And the better economy index helped the greenback. The CB Consumer Confidence released at 14:00(GMT), Tuesday was 113.8 better than the expected 108.4 and the previous 109.8. The retreating dollar turned its direction upward.
The Dollar Index is traded 0.1 percent lower at 93.892 as the day begins at 06:30(GMT).
But it is reported the investors awaited the ECB's and the Bank of Japan's monetary policy which are planned to be released on Thursday, respectively. It is expected the BOJ's policy will be frozen. But the investors watch the ECB's policy, whether it will keep the policy unchanged or will do anything against the inflation risk. Although the ECB is widely expected to leave its key rates unchanged on Thursday, President Christine Lagarde could battle against the market pricing of a 10 basis points rate hike by next summer. Moreover, the worsening economic outlook in the euro area is likely to cause ECB policymakers to keep a dovish tone.
The investors expect to get some hints about the ECB's tapering and the expiration of quantitative easing.
And the Federal Reserve has now gone into a blackout period ahead of next week’s policy-setting meeting, and ahead of this traders are focusing on the release of a series of important data releases.
It is reported that any signal of the tapering by ECB affects the bond yield of some Europe countries.
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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.
You can ask by messenger and e-mail.
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Saturday, 23 October 2021
Saturday, 16 October 2021
Thursday, 14 October 2021
[EUR] Dollar in the Correction 2021 1014
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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] The Downward Trend on EURO 2021 1003
cf. [EUR] Falling Euro 2021 0930
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 tries to rebound from the bottom of 1.1530s. The pair which has touched 1.1522, rebounds exceeding 20 moving average in the four-hour chart. The euro reached the upper band of the Bollinger Bands and moves along the upper band in the four-hour chart in the Forex market.
And the euro recovered 1.16 against the dollar. The EUR/USD is 1.1609 as of 10:00(GMT).
The investors need to hold their respective bias to the euro and the dollar though the euro shows bullish. Because the daily chart of EUR/USD doesn't show the explicit signals yet. The rebounding euro tries to reach the 20 moving average but it's not certain to confirm the bullish trend.
The dollar retreated somewhat though the release of the hawkish FOMC meeting minutes on Wednesday. The meeting minutes satisfied the market participants' anticipate.
The CPI, Consumer Price Index rose 0.4 percent from the previous month index. It may support the hawkish Fed. The rising inflation risk will help the early hawkish measurement by the Fed.
The released minutes recently hinted the tapering in mid-November or mid-December in this year.
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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.
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.
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Sunday, 3 October 2021
[EUR] The Downward Trend on EURO 2021 1003
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| EUR/USD four-hour chart, source:FXDD.com |
cf. [EUR] Falling Euro 2021 0930
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 shows the explicit downward momentum. The pair retreats forming two peaks in the weekly chart. The double-tops pattern is the bearish-trend pattern, and it is found in the EUR/USD weekly chart.
If it continues to fall, the investors can expect the price of euro to 1.13 first.
The pair failed to exceed over the 20 moving average in the four-hour chart. The euro rose strongly but failed to exceed the 20 moving average. It implies the downward momentum is stronger than the upward momentum.
The currency pair EUR/USD rebounded in the end of the last week. It seems to be the reacation against the steep fall of the pair after FOMC meeting.
The Dollar Index tracking the greenback against the basket of the major six currencies fell 0.19 percent to 94.048 last weekend, but it rose 0.78 percent in the weekly chart, 2.03 percent in the third quarter.
The FOMC meeting in last month showed the hawkish Fed. The Fed members hinted the tapering and the hike of the benchmark rate next year, strongly. Even dovish Fed member, Neel Tushar Kashkari, the president of the Federal Reserve Bank of Minneapolis supported the tapering early.
The market participants expect ECB, the European Central Bank will keep the monetary easing for a long time though the hawkish Federal Reserve. And the currency pair EUR/USD plunged to 1.1560, record low since July 2020.
Core PCE Price Index m/m released on October 1 was 0.3 percent higher than the market expectation 0.2 percent recording high for 30 years. It is known the Fed is very interested in PCE Price Index as the inflation measure.
Meanwhile Jerome Powell, the Chair of Federal Reserve has told the inflation could continue till the next year.
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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.
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