[EUR] The Hawkish Fed and the Stable Euro 2021 1216

 

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] Omicron, Inflation and Fluctuating Euro 2021 1202

cf. [EUR] New Variant and the Strong Safe-haven Asset 2021 1128 https://youtu.be/PPfYePfIV4I

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 no postion just watching the market.

The currency pair EUR/USD fluctuates in the channel without the explicit trend.

The currency pair is still bearish and on the upward trend line in the weekly chart. The pair is supported the trend line yet.

But the euro fluctuates in the narrow channel in the daily and the hours charts.

It is recommended just to watch the market for a while.

The Dollar Index tracking the dollar against the currency basket composed of the six major currencies fell 0.23 percent to 96.365.

The Federal Reserve reconfirmed its hawkish stance after the FOMC meeting. The inflation risk was high, FOMC members thought.

The word 'transitory' which had expressed the inflation was deleted in this FOMC statement. The Fed had spoken the inflation was transitory.

Fed decided to freeze the benchmark interest rate but double the tapering size to 30 billion dollar a month while the FOMC meeting. It is expected the tapering is completed in March, 2022.

The released dot diagram has made the market expects the three-times interest rate hike in the next year.

The Fed Chair, Jerome Powell spoke the economy growth and prospect adjustment made the revision of the currency policy while the press conference after the FOMC meeting.

The economy news agency Bloomberg evaluated this Fed's policy in this year was most hawkish.

The market experts in the major investment banks anticipate the first interest-rate hike in next March, in which the tapering will be completed.

And they expect the interest hike will be done three times in the next year according to Bank of Korea.

The analysts at Bank of America expected the interest rate would be risen 0.25 percent point, nine times from 2022. The specialists at Citi Bank anticipated so, too.

The Forex market is stable though the Fed showed hawkish policies. The market specialists analysed the Fed moved in the anticipated range and the uncertainty had been cleared.

Some analysts think the risk-on sentiment will be back.

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

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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[EUR] Omicron, Inflation and Fluctuating Euro 2021 1202

 

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] New Variant and the Strong Safe-haven Asset 2021 1128 https://youtu.be/PPfYePfIV4I

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 liquidated the Short position of Euro at CME and has no postion. It still has the short bias on the euro.

After the sharp fluctuation, the currency pair EUR/USD moved up and down in the diminishing channel in one-hour chart and the four-hour chart. The pair reached the 120 exponential moving average in the four-hour chart in the early week but it failed to exceed it.

The pair hasn't exceeded the 20 moving average in the daily chart in the daily chart, yet.

There aren't the explicit patterns and the signals in the charts, and it is not recommended to get new positions. It is needed to watch the market without the trading now.

The risk-averse sentiment was taken due to the cases of omicron variant in the United States.

The cases of omicron variant raised the Japanese yen, safe-haven asset.

And the euro retreated against the dollar, as the Fed showed its hawkish explicitly and is expected to show the different stance from the European Central Bank's.

The Fed Chair, Jerome Powell testified at the committee of the House of Representatives and spoke the tapering acceleration would be discussed in the FOMC meeting in December. He spoke the possibility of the early termination of the tapering.

And the ADP Non-farm Payrolls in November increased 534 thousands, higher than market's expectation 506 thousands.

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

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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[Gjallarhorn][EUR] New Variant and the Stong Safe-haven Asset 2021 1128

[Gjallarhorn][걀라호른][EUR] 새로운 변이의 출현과 안전자산 강세 2021 1127

[Gjallarhorn][걀라호른][EUR] 1.13대가 붕괴된 유로화 2021 112

[Gjallarhorn][걀라호른][EUR] 반등한 유로, 여전한 약세 의견 2021 1106

[Gjallarhorn][걀라호른][EUR] FOMC를 앞두고 급락한 유로 2021 1030

[EUR] The bearish EURO 2021 1027

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.

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

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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Thank you.

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#Gjallarhorn, #EUR, #euro, #EURUSD

[Gjallarhorn][걀라호른][EUR] 반등하는 유로, 숨 고르는 달러 2021 1023

[Gjallarhorn][걀라호른][EUR] 반등한 유로, 계속 상승할까 2021 1017

[EUR] Dollar in the Correction 2021 1014

 

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.

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

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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#Gjallarhorn, #EUR, #euro, #EURUSD

[EUR] The Downward Trend on EURO 2021 1003

 

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.

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

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.

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Telegram broadcasting - t.me/gjallarhorn_report

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http://morgenluft.blogspot.com

#Gjallarhorn, #EUR, #euro, #EURUSD

[EUR] Falling Euro 2021 0930

 

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.

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

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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Thank you.

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Telegram broadcasting - t.me/gjallarhorn_report

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#Gjallarhorn, #EUR, #euro, #EURUSD

[EUR] The bearish EURO after FOMC 2021 0923

 

EUR/USD four-hour chart, source:FXDD.com

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 no position after the  liquidation watching the market.

The currency pair EUR/USD is on the downward trend. The pair tried to exceed its 20 moving average but failed. It kept the bearish trend and sank as the FOMC meeting conclusion was released.

It fluctuates in the narrow band after FOMC and tries to rebound.

The currency pair EUR/USD tries the rebound around 1.1690~1.1700, and the price band has supported the euro before. And the investors need to know the price has supported above 1.600 for a year. In the last month, the euro succeeded to rebound above 1.670s.

The dollar rose after the FOMC meeting. The Federal Reserve froze the benchmark interest rate, 0~0.25 percent band but hinted the rate hike in the next year or in 2023.

Fed Chair, Jerome Powell spoke the tapering might be active soon but didn't tell the speed of it at the press conference after the FOMC meeting. He told, the tapering would be terminated in the mid 2022. It means, the start time and the speed are already determined but published, the news medias report.

The FOMC froze the benchmark interest rate, Federal Funds Rate but the members anticipated it would be risen in the next year if early. The US economy daily, Wall Street Journal analysed, the Fed begun the tapering and signaled the interest hike in 2022. And it will rise in 2023 without the condition, some analysts think.

The market participants anticipate the tapering will be published in November and active in December.

It is reported, the quicken tapering plan is due to the inflation pressure. The Fed raised its expectation of the core PCE to 3.7 percent from 3.0 percent in the meeting. It is anticipated 2.3 percent in the next year. It exceed the Fed's goal, 2.0 percent.

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.

The ECB president spoke the speed of the purchasing asset would be ease but it didn't mean the tapering ahead of the liquidation of euro-fx.

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

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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#Gjallarhorn, #EUR, #euro, #EURUSD

[Gjallarhorn][EUR] Inflation and Bullish Dollar 2021 0919

[Gjallarhorn][걀라호른][EUR] 인플레이션 압력과 달러 강세 2021 0918

[Gjallarhorn][걀라호른][EUR] 달러 강세로 기우는 시장 2021 0912

[EUR] Awaiting ECB's Decision 2021 0907

 

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] Ahead of Non-farm Payrolls 2021 0901

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

The currency pair EUR/USD retreated to 1.1854 on Monday, the US Labor Day, and began to rebound.

It goes toward 1.1880. The currency pair is supported on 20 Moving Average and restrained on the upper band of the Bollinger Bands in the four-hour chart. It can reach 1.1895 if the pair rises to the upper band of the Bollinger Bands in the chart. The investors need to watch whether the channel between the upper and the 20 moving average is still held.

The pair can keep its upward trend though it sinks below the 20 Moving Average. It can be supported on the bottom band and recover its momentum.

The currency pair EUR/USD showed the moderate falling on Monday. It was the US holiday, Labor Day.

As the US Non-farm Payrolls showed the deteriorated job growth on last Friday, the market participants await ECB's meeting on Thursday. It is expected the ECB may show its schedule about the Pandemic Emergency Purchase Program, PEPP.

It is reported the ECB will start slowing down PEPP in the fourth quarter and may not exhaust the whole 1.85 trillion-euro program before it ends next year.

 

On Thursday, ECB policy makers will have to decide when to shift the institution away from its crisis mode. The inflation outlook now warrants stepping back stimulus, with inflation jumping to 3 percent, well above the ECB’s goal. The hawks have been very silent during the crisis phase but now as ‘normality’ is coming back, they could try to convince the doves to slow down the pace of asset purchases. More cautious policy makers will try to keep the focus on the uneven nature of the economic recovery and the risks from the delta strain.

The CPI in Eurozone has risen 3 percent recording high in ten years.

European Central Bank (ECB) policymaker Klass Knot signaled that the central bank might start reducing the pace of the PEPP as reported by Reuters.

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

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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Thank you.

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#Gjallarhorn, #EUR, #euro, #EURUSD

[Gjallarhorn][걀라호른][EUR] 유로화의 선택 -상승 지속인가 하락 반전인가 2021 0904

[EUR] Ahead of Non-farm Payrolls 2021 0901

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.

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Thank you.

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#Gjallarhorn, #EUR, #euro, #EURUSD

[EUR] Risk-on Sentiment 2021 0826

EUR/USD four-hour chart, source:FXDD.com

 

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

cf. [EUR] Rebounding EURO II 2021 0804

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

One of the major currency pair EUR/USD reached the downward trend line and resistance line in the four-hour chart. The pair attempts to exceed the line and the 120 exponential moving average. If the attempt succeeds, the traders may expect the trend change to bullish trend of the euro.

The falling euro was supported on 1.1650s last week. The traders need to watch the euro rebound from 1.1650s or it sinks under the 1.1650s.

The Dollar Index tracking the greenback against a basket of major six currencies edged high 0.08% to 92.903 as of 03:00(GMT).

But the risk-on sentiment raised the risky asset. The yield of the US 10-y Treasury Note rose to 1.30 percent band. The expectation of postponing tapering because of the delta-variation proliferationraised the yield, news medias reported.

The news of FDA's approval about Pfizer made the investors' risk-on.

Market participants await the speech of Fed Chair Jerome Powell at Jackson Hole symposium for clues on an asset tapering timeline. It's reported, the investors thought Jerome Powell would not support the explicit signal of the tapering.

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

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.

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#Gjallarhorn, #EUR, #euro, #EURUSD

[Gjallarhorn][걀라호른][EUR] 유로가 주고 있는 희망고문 2021 0821

[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.

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[Gjallarhorn][걀라호른][EUR] 반등을 모색하는 유로 2021 0814

[EUR] Rebounding EURO II 2021 0804

EUR/USD four-hour chart, source:FXDD.com

 

cf. [EUR] Rebounding EURO 2021 0728

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

The rising EUR/USD retreated. The pair rose along the upper band of Bollinger Bands fell to the bottom band in three hours in the one-hour chart. But it sidles around the upper band in the daily chart.

It rebounds from the bottom band after the correction in the four-hour chart. It fluctuates around 20 Moving Average in the chart, and it is expected to reach the upper band or 1.1895 in the four-hour chart.

The Dollar Index tracking the greenback against the currency basket of six major currencies fell 0.01 percent to 92.052. 

The US Treasury yields is stable after flowing downward. The market participants think it shows the recovery of US economy has passed the peak and the greenback gained.

The proliferation of the delta variation still makes the investors concern, and the dollar rebounded again. The spread of COVID-19's delta variation in US raised the infection cases as  that in last February. The blockade in US has less possibility and it controls the market's panic.

And the US Non-Farm Payrolls is released at 12:30(GMT), Friday. The markets expect some 870-thousand increase and 850 thousands in previous release. It is one of the powerful event, the traders need to deal more carefully.

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

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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[Gjallarhorn][걀라호른][EUR] 모처럼 반등한 유로 2021 0801

[JPY] Hovering Yen 2021 0731

USD/JPY four-hour chart, source:FXDD.com

 

Gjallarhorn keeps the long position of EUR at the CME. The positions are under the loss. It doesn't have any position of JPY, yet.

The currency pair USD/JPY lowered its peaks since July but it is confirmed that the price is supported around 109.35~40.

The currency pair failed to exceed 20 Moving Average in the four-hour chart Friday. It implies the bearish trend in the short term, the daily chart and the one-hour chart signals the bullish though. It is anticipated a mild bullish after the correction.

The pair is under the downward trend line. It doesn't seem to break through the trend line at once, there will be the attempt to exceed it though.

The risk-averse sentiment raised the dollar, and the dollar rose against the Japanese Yen, too.

The Fed's shift to the hawkish stance has supported the dollar's rally, and the concern of the inflation made the investors worry.

The US Core PCE Price Index (MoM) in June increased 0.4 percent, which was 0.5 percent in the previous release and the market expected 0.6% increase. It also increased 3.5 percent year-over-year, it recorded high in thirty years. But it was lower than the market's expectation, 3.7 percent. It is reported the Fed values the Core PCE Price Index.

James Bullard, President of the Federal Reserve Bank of St. Louis showed his hawkish again, and it helped the greenback's gain. He said, the inflation reached to Fed's expectation and the tapering should be begun in this fall and completed by the 1st quarter in the next year. He expected the more GDP growth in the 2nd half.

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

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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[EUR] Rebounding EURO 2021 0728

EUR/USD four-hour chart, source:FXDD.com

 

cf. [EUR] Bearish EURO 2021 0720

cf. [EUR] Falling EURO 2021 0713

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

One of the major currency pair EUR/USD rebounded from the downward trend. The pair exceeded the short-term bearish trend line and rose along the upper band of Bollinger Bands, touching 120 exponential moving average in the four-hour chart.

It was supported on 20 moving average while its correction and kept the rising.

It also attempts to exceed 20 moving average in the daily chart. If it succeed, the currency pair could rise to the upper band, 1.18836 in the daily chart and give the hint the bullish trend.

But there is always the possibility of the correction as the euro tries to exceed the 120 exponential moving average or the Europe session begins.

While the correction since late May, the euro has been supported on the bottom band. It implies the bearish flow is eased up. If the rebound is successful, the investors can think the euro is supported on 1.1750.

And the possibility of forming Double-tops pattern still remains, which supporting bearish trend in the weekly chart. The pattern is likely to pull the EUR/USD down to 1.16 and 1.13 in that order.

Dollar Index tracking the greenback against the basket of six major currencies retreated ahead of FOMC. It fell 0.18 percent to 92.447. It is expected the market participants just watch the market before the Fed Chair Jerome Powell's press conference after the FOMC meeting.

The market watch the FOMC's action against the rapid inflation and the spread of COVID-19 delta variation.

The FOMC meeting result is released at 18:00(GMT), Wednesday and Fed chair's press conference is planned at 18:30(GMT).

The bond yields of the United States and Germany were downward. It is reported that the market participants think it is due to the central bank's quantitative ease and the concern of delta variation's spread.

But the US economy indices show the economy recovery in the US. The US CB Consumer Confidence hit 129.1, which is high since June 2020.

The International Monetary Fund anticipated the global GDP in the year to 6 percent keeping the previous outlook.

And Yonhap Informax, economy news service reported, the investors bought the greenback more from the last week. It diagnosed the global economy recovery and Fed's possible tapering made them buy the dollar.

Meanwhile, Goldman Sachs adjusted the GDP growth of Southeast countries due to the spread of the COVID-19 delta variation last week. It lowered the anticipated Indonesia's growth from 5.0 percent to 3.4 percent, that of Malaysia's from 6.2 percent to 4.9 percent and that of Singapore from 7.1 percent to 6.8 percent. 

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

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) 

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[Gjallarhorn][걀라호른][EUR] 추가하락과 반등의 여지 사이에 선 유로 2021 0724

[EUR] Bearish EURO 2021 0720

 

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] Falling EURO 2021 0713

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

The currency pair EUR/USD fluctuated in Bollinger Bands and it stepped down. Because the trend is bearish now.

The pair retreated as Europe session began and rebounded as New York session began. There were two sparks but it retreated in the end. The pair doesn't seem to rebound over 1.1807, 120 exponential moving average in the four-hour chart in the short term.

The currency pair moves in the downward tunnel in four-hour chart.

And there is the possibility of forming Double-tops pattern, supporting bearish trend in the weekly chart. The pattern is likely to pull the EUR/USD down to 1.16 and 1.13 in that order. There is still the possibility of euro's fluctuating in the Bollinger Bands, too. Then the pair rebound to 1.20, 20 moving average in the weekly chart first.

The spread of the delta variation of the COVID-19 made the investors get the risk-off sentiment again. And Dollar Index tracking dollar against the basket of the major six currencies rose 0.13 percent to 92.844, risky currencies sank to near three-month bottom.

Edward Moya, analyst of on-line Forex FDM Oanda diagnosed the concern to the delta variation raised the risk-averse sentiment. He forecasted the surge of the greenback and Japanese yen.

 Ulrich Reutsmann, head of foreign exchange and commodities research at Commerzbank said, it was questionable whether we could return to pre-COVID-19 conditions even with increasing vaccination rates.

Meanwhile, Goldman Sachs adjusted the GDP growth of Southeast countries due to the spread of the COVID-19 delta variation last week. It lowered the anticipated Indonesia's growth from 5.0 percent to 3.4 percent, that of Malaysia's from 6.2 percent to 4.9 percent and that of Singapore from 7.1 percent to 6.8 percent. 

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

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) 

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[Gjallarhorn][걀라호른][EUR] 다시 안갯속을 걷는 유로화 2021 0717

[EUR] Falling EURO 2021 0713

EUR/USD four-hour chart, source:FXDD.com

 

cf. [EUR] Bearish EUR in the Short Term  2021 0706

cf. [EUR] The Euro in the correction  2021 0630

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

The currency pair EUR/USD which reached the upper band of Bollinger Bands in the four-hour chart last week retreated bellow the upper band again. And the price of the pair dropped at beginning of Tuesday(GMT)  in the one-hour chart.

The US CPI released at 12:30(GMT) was better than expected and it raised the greenback. The price of EUR/USD hit the bottom band of Bollinger in the hour charts and it slid along the bottom band.

The euro fell under 1.18. It may drop to 1.1778, the previous bottom. Then the euro will ride on the bearish trend in the short term.

And we need to watch the weekly chart of EUR/USD. The 20 Moving Average began to direct downward, it shows the bearish bias in mid-and-long term. And it implies the euro failed to break through the bearish trend line.

The greenback gained Monday ahead of Fed Chair's testimony and the release of the US CPI in June. CPI hit 0.9 percent better than expected 0.5 percent. The dollar jumped making the market participants have the bearish bias.

The hawkish stance of European Central Bank, ECB raised the euro last week, the euro collapsed Tuesday afternoon(GMT) though.

The Dollar Index tracking the dollar against the currency basket of major six currencies rose 0.12 percent to 92.237 on Monday.

The risk-averse sentiment is still valid due to the spread of the delta variation, the market moves moderately. The yields of the US 10-y note rebounded to 1.37x percent after the correction in the early session.

John Williams, the president of the Federal Reserve Bank of New York spoke it's wrong to guess the new policy frame of the Fed calls the rapid hike of the benchmark rate.

And Thomas I. Barkin the president and CEO of the Federal Reserve Bank of Richmond diagnosed the US employment market not recovered sufficiently to do tapering.

ING analyzed the possibility of the weak greenback due to the CPI and Powell's testimony in the House of the Representatives. But TD Securities anticipated, the strong US economy indices and Powell's support of hawkish stance raise the dollar.

Meanwhile DowJones reported, Saxo Bank predicted the bullish euro in September after German parliament election. It expected the possible German ruling party would raise the bond yield and the euro rise.

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

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) 

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[Gjallarhorn][걀라호른][EUR] 모처럼 반등한 유로 2021 0710

[EUR] Bearish EUR in the Short Term 2021 0706

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] The Euro in the correction  2021 0630

cf. [EUR] The moderate Euro 2021 0624

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

The one of the major currency pairs, EUR/USD retreated after the fluctuating during the U.S. holidays. The pair rose in the Asian session, it stepped down at the beginning of Europe session though.

The euro succeeded to exceed 20 Moving Average in the four-hour chart, it failed to rise along the upper band of Bollinger Bands though. It fluctuates in the bands and it is not certain the euro gain against the greenback.

It seems the euro retreats in the short term.

The German ZEW Economic Sentiment hit 63.3 worse than expectation 75.0 and the previous record 79.8. It lowered the euro against the dollar.

As Federal Reserves supported the hike of the benchmark interest rate, the speculative investors diminished the long positions of the euro, Yonhap Infomax reported citing DowJones on Tuesday(GMT).

Meanwhile DowJones reported, Saxo Bank predicted the bullish euro in September after German parliament election. It expected the possible German ruling party would raise the bond yield and the euro rise.

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

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) 

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[Gjallarhorn][걀라호른][EUR] 방향성을 모색하는 유로 2021 0704

https://youtu.be/DbF9rYUigr8 미 연방준비제도가 테이퍼링과 금리인상을 시사하자 달러는 반등하기 시작했는데, 지난주 금요일 비농업분야 고용지표가 발표되자 달러는 조정을 보였습니다. 달러가 상승세를 이어갈 지 이번엔 유로가 시장을 이끌어갈지 지켜봐야겠습니다. ------------------------------------------ 걀라호른은 애널리스트가 아닌 트레이더가 작성한 보고서를 제공합니다. 그래서 이론적인 애널리스트의 시각보다 더 현장감이 생생한 트레이더의 눈으로 바라본 시장 모습을 투자자 여러분들께 보여주려고 노력하고 있습니다. 그리고 걀라호른은 매매에 관한 어떤 신호도 서비스하지 않습니다. 대신 투자자 여러분들이 시장에 대한 깊은 이해를 갖도록 도움을 드리는데 노력하고 있습니다. 문의사항 있으면 메신저나 이메일로 물어보시면 됩니다. 페이스북- facebook.com/Gjallarhorn.report/ 텔레그램 id: @morgenluft e-mail - kmuk001@gmail.com 텔레그램 채널을 안내해드리면, t.me/gjallarhorn_report 입니다. 이 보고서가 도움이 되신다면 후원도 부탁드리겠습니다. PayPal kmuk001@gmail.com. 감사합니다. #Gjallarhorn, #EUR, #euro, #EURUSD https://youtu.be/DbF9rYUigr8

[EUR] The Euro in the correction 2021 0630

EUR/USD four-hour chart, source:FXDD.com

 

cf. [EUR] The moderate Euro 2021 0624

cf. [EUR] Euro in the Roller Coast 2021 0622

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

The one of the major currency pairs, EUR/USD fluctuates in the narrow channel since the week. The currency pair sank under the 20 moving average of the four-hour chart on the contrary of Gjallarhorn's expectation. It seems that the pair saves the momentum ahead of the Non-Farm Payrolls on Friday.

Though its correction in the week, the euro hasn't fallen on the bearish trend but tries to rebound forming double bottoms in the four-hour chart. But the direction of 20 Moving Average in the four-hour chart is downward, it is expected the euro falls in the short term.

The risk-off sentiment made the greenback move up as the delta variation of Corona virus proliferates widely Tuesday. The variation has proliferated in Australia and some Asia region as well as Europe.

The Dollar Index rose 0.18 percent to 92.06.

Meanwhile DowJones reported, Saxo Bank predicted the bullish euro in September after German parliament election. It expected the possible German ruling party would raise the bond yield and the euro rise.

The FOMC still froze the benchmark interest rate zero to 0.25 percent in the June meeting. But Fed Chair Jerome Powell supported the tapering and the hike of the interest rate twice next year.

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

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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[Gjallarhorn][걀라호른][EUR] 숨고르기에 들어간 달러와 유로 2021 0627

[EUR] The moderate Euro 2021 0624

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] Euro in the Roller Coast 2021 0622

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

The rebounding currency pair EUR/USD tries to break through 120 expoential moving average in the one-hour chart since yesterday. And the pair which succeeded to exceed 20 moving average in the four-hour chart attempt to reach and break through the upper band of the Bollinger Bands in the four-hour chart, too.

The diving was eased and it moved into the Bands in the daily chart, and the upward trend line succeeded to support the falling euro. Gjallarhorn expects the moderate rising of euro.

James Bullard, President of the Federal Reserve Bank of St. Louis spoke, the economy went well than expectation and the tapering should be prepared at the forum last Friday. Mr. Bullard seemed to switch his position to hawkish.

Fed Chair Jerome Powell testified at the House of Representatives on Tuesday and tried to ease the market 's concern. He acknowledged the inflation pressure but he emphasized the inflation pressure would be eased.

But another hawkish member of Fed, Raphael Bostic the President of the Federal Reserve Bank of Atlanta spoke the expected benchmark interest rate hike would be done in the late next year, and his comment made the market nervous. He said there would be the more hike of interest rate in 2023, too.

Due to the Bostic's hawkish comment, the U.S. short-term bond yields rose. The 2-yr bond yield rose 1.5bp to 0.253 percent.

And the Dollar Index tracking the greenback against the basket of the major six currencies retreated 0.02 percent to 91.827 yesterday.

German ifo Business Climate released today showed 101.8 which was expected 100.8 and was 99.2 in the previous month.

The FOMC still froze the benchmark interest rate zero to 0.25 percent last Wednesday. But Fed Chair Jerome Powell supported the tapering and the hike of the interest rate twice next year.

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

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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#Gjallarhorn, #EUR, #euro, #EURUSD

[EUR] Euro in the Roller Coast 2021 0622

EUR/USD four-hour chart, source:FXDD.com

cf. [EUR] The bullish Bias on EURO though the Concern of the Inflation 2021 0615

cf. [EUR] Rebounding Euro 2021 0504

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

The plunged currency pair EUR/USD reduces the sliding speed and attempts to rebound.

Gjallarhorn expected the bullish euro but it fell due to the hawkish Fed's stance last week. The pair broke through 1.21, 1.20 and 1.19 continuously. It is 1.1884 as of 10:05(GMT) according to FXDD.com and tries to rebound.

But it seems to be difficult to rise to 1.20 soon. The daily chart shows the price of euro still is in the bearish trend, but euro gives the clues to rebound in the four-hour chart and one-hour chart. The reach to 1.1899 which is 20 Moving Average in the four-hour chart will give the hope of rise to 1.20.

The dollar rocketed last week retreated since Monday as the market left from the Fed's shock. The dollar index tracking the dollar against the major six currencies' basket fell 0.45 percent to 91.848 Monday.

But the market participants need to watch the Fed Chair's comment when Fed Chair Jerome Powell testifies at the House of Representatives, and the other members speak, too in this week.

James Bullard, President of the Federal Reserve Bank of St. Louis spoke, the economy went well than expectation and the tapering should be prepared at the forum last Friday. Mr. Bullard seemed to switch his position to hawkish.

Fed officials have already started the process of explaining their thinking, with New York Fed president John Williams taking a dovish tone Monday, saying more economic progress is needed before the central bank should begin to scale back some of its support.

The FOMC still froze the benchmark interest rate zero to 0.25 percent last Wednesday. But Fed Chair Jerome Powell supported the tapering and the hike of the interest rate twice next year.

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

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.

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[Gjallarhorn][걀라호른][EUR] 허리띠 졸라매기에 들어간 Fed 2021 0619

[EUR] The bullish Bias on EURO though the Concern of the Inflation 2021 0615

EUR/USD four-hour chart, source:FXDD.com

 

cf. [EUR] Rebounding Euro 2021 0504

Gjallarhorn keeps the long position of EUR at the CME. It tried the pyramiding but the positions are in the loss term.

The currency pair EUR/USD which is in the correction since late May tries to rebound on the bottom band of the Bollinger Bands in the daily chart. And the pair tries to exceed the 20 Moving Average in the four-hour chart as the Europe session begins.

Though the correction, it confirmed the support on the bearish trend line and on the price of 1.21.

It is reasonable to keep the bullish bias on the euro against the dollar. And we need to watch the chart whether it exceeds 1.22 or not. If it succeeds to exceed the price of 1.22, we can expect its advance to the previous peak 1.2265 and the yearly peak 1.2333 respectively.

The Investing.com reported, the dollar slipped marginally lower in early European trade Tuesday, but just off multi-week highs ahead of the latest two-day meeting of the Federal Reserve. The Dollar Index, which tracks the greenback against a basket of six other currencies, was 0.1% lower at 90.442, but this was still near the top of its recent range at 07:50(GMT).

There is also the concern of the inflation in the U.S. economy. It would support the greenback. Ahead of the FOMC's meeting, the market was mixed.

The market participants expect Federal Reserved will keep its hyper monetary easing, but they are nervous about the economy records such as CPI and PPI. The good records may trigger the Fed's tapering. Janet Yellen, the Treasury Secretary spoke the possibility of the hike of interest rate in early the month.

The markets watch the possible Fed's tapering as the U.S. economy recovers from the bottom since last year.

A Forex analyst spoke, the Forex rates have fluctuated in the narrow band for weeks and it seems to keep the pace.

And FOMC release the Economy Projections and the statement in the Wednesday afternoon(GMT). It also shows the benchmark interest rate, the Federal Funds Rate. It is expected the benchmark interest rate will be frozen, 0 to 0.25 percent band. 

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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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[Gjallarhorn][걀라호른][EUR] 부진한 고용시장, 하락한 달러 2021 0606

[EUR] Rebounding Euro 2021 0504

EUR/USD four-hour chart, source:FXDD.com

 

cf. [EUR] Bullish Trend on Euro 2021 0426

Gjallarhorn keeps the long position of EUR at the CME, and it is in the loss term.

The currency pair EUR/USD rebounds as the New York session begins. It has been under the correction after breaking through the downward trend line and hitting 1.2149.

It seems that the upward trend has turned to downward in the four-hour chart. The 20 Moving Average turned to downward. The rising price may be analyzed incorrectly. There is still the possibility of forming the Head-and-Shoulders pattern, the downward pattern in the weekly chart.

But Gjallarhorn thinks the 120 Exponential Moving Average in the four-hour chart will support the pair and the pair will rebound from 1.20. There is the possibility of the Head-and-Shoulders pattern in the weekly chart, the price can be also guessed that the euro fluctuates in a band though.

And the dollar retreated as the US bond yields fell.

The news agency AFP reported on Monday, John Williams, governor of Federal Reserve Bank of New York spoke the US economy would grow 7 percent recovering from the pandemic in this year. It is higher than the anticipated growth by FOMC, 6.5 percent.

And he anticipated the 2 percent of inflation which is Fed's goal in the next year.

The one of the major Forex events, the Non-Farm Payrolls is released at 12:30(GMT), Friday. The market participants expect the 975 thousand increasing, the previous record is the 916 thousand increasing. And the anticipated unemployment rate released simultaneously is 5.7 percent. It was 6.0 percent released in April. These indices shows the recovering US economy.

Meanwhile it was reported that Joe Biden, the US President would plan to raise the capital tax from 20 percent to 39.6 percent about the super riches.

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

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.

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#Gjallarhorn, #EUR, #euro, #EURUSD

[EUR] Bullish Trend on Euro 2021 0426

EUR/USD four-hour chart, source:FXDD.com

Gjallarhorn got the long position of EUR at the CME.

The currency pair EUR/USD rises at the begin of the week continuing its bullish sentiment for weeks.

It attempts to break above the bearish trend line which was formed since 2008, again. This attempt will determine the next trend, bullish or bearish. If the pair breaks through the downward trend line, it will get the long bias for a long time. Gjallarhorn forecasted the Head-and-Shoulders pattern in the weekly chart, but it failed to build the pattern. It is convenient to expect the long bias on the euro.

The pair rises raising its peaks gradually in the one-hour chart on Monday. The euro seems to keep its rising though there are corrections.

The German ifo Business Climate released 08:00 Monday(GMT) was 96.8 worse than expected 97.8. The previous record was 96.6. After the German ifo Biz Climate, the euro retreated in the correction.

But the risk-on sentiment raises the euro against the greenback as economic data point to a global economic recovery ahead of this week’s Federal Reserve meeting.

The Dollar Index tracking the greenback against a basket of six other currencies was 90.778 as of 07:55 (GMT), near levels not seen since the end of February.

The European Central Bank maintained its very accommodative policies last week, with President Christine Lagarde shutting down expectations that the central bank will start to consider easing back its bond purchases any time soon.

And the FOMC, Federal Open Market Committee releases its statement and the benchmark interest rate, Federal Funds Rate at 18:00 Wednesday(GMT). It is expected the interest rate will be frozen to the band of zero to 0.25 percent.

Meanwhile it was reported Joe Biden, the US President would plan to raise the capital tax from 20 percent to 39.6 percent about the super riches.

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

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. 

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#Gjallarhorn, #EUR, #euro, #EURUSD

[Gjallarhorn][걀라호른][EUR] 하락세가 강한 유로화 2021 0327

[Gjallarhorn][걀라호른]인문학이 들려주는 트레이딩 원리 #5 - 붉은여왕 효과

[EUR] Short Bias to EURO 2021 0326

EUR/USD four-hour chart, source:FXDD.com

 cf. [EUR] Fluctuating and Bearish-like EURO 2021 0323

Gjallarhorn doesn't have any position just watching the market.

The currency pair EUR/USD which has fallen since mid March tries to rebound. But the momentum of the pair seems not to be strong and the explicit signal is negative to euro.

The weekly chart of EUR/USD should be watched before the rebounding euro attracts attention. The form of the Head-and-Shoulders pattern is being completed in the weekly chart. The head and the left shoulder are made, and the rest seems to be formed. If the traders consider the pattern, they need to prepare of the retreat to 1.1600, first. The euro may fall under the 1.16 after forming the right shoulder of the pattern.

The market participants need to watch whether the euro exceed 20 moving average in the four-hour chart for the deal in the short term. If it breaks 20 MA, it can be expected to rise to 1.187x at least.

Before the analysis the chart, we need to be interested in the global economy news more. The currencies including the greenback and the euro, are moved by the US economy, the bond yields and the vaccination against the pandemic.

The optimistic outlook for the US economy, the impressive pace of coronavirus vaccinations and a fresh leg up in the US Treasury bond yields should continue to underpin the greenback. Thursday's upbeat US Initial Jobless Claims added to the narrative of a relatively faster US economic recovery from the pandemic.

The concerns about the economic recession due to the third wave of COVID-19 infections in Europe could keep a lid on any meaningful upside for the shared currency.

And the risk-off sentiment supports the US dollar. The expectation of the US economy growth, too. The US economy is distinguished from its counterpart due to the third wave of the infections.

The unemployment claims hit the low since the pandemic, recording 684 thousands and the US GDP in last forth quarter was 4.3 percent.

Meanwhile, Jerome Powell, the Federal Reserve Chair has affirmed the monetary easing policy in the long term contributing to the mass media, and Thomas I. Barkin, the governor of Federal Reserve Bank of Richmond has spoken, the inflation should be out of sight for six months and tried for the stable bond market.

It is reported, JP Morgan increased the dollar position in its Forex portfolio.

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

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