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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.
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