[EUR] Falling EURO 2022 0126

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

 

cf. [EUR] Hawkish Fed and the Bullish Dollar 2022 0119

cf. [EUR] Rebounding Euro 2022 0113

 

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 a short position on Euro.

 

The concern about the possible hawkish Federal Reserve and the risk of the conflict between Russia and Ukraine provoked the risk-off sentiment. And the dollar was mixed on Tuesday.

 

The currency pair EUR/USD is 1.12778 as of 10:53(GMT), Wednesday. And another major currency pair USD/JPY rises hitting 114.195. The Dollar Index tracking the dollar was 96.966 in New York session, Tuesday.

 

The Federal Reserve has held the FOMC meeting and release the Federal Funds Rate at 19:00, Wednesday (GMT). The market participants expect the Fed will show the outline of the currency policy in the year and concern the possibility of more hawkish Fed.

 

The market expects the Fed will hike the benchmark rate 0.25 percent point in March to 1.0 percent by the year.

 

The geopolitical risk in Ukraine rises more and more and raises the risk-averse sentiment. The U.S. Presiden, Joe Biden ordered the U.S. troops to prepare the dispatch.

 

The currency pair EUR/USD failed to break the 120 exponential moving average in the four-hour chart and continues to retreat. It fell to the bottom of the mixed band in late 2021. The rebounding signals of the euro aren’t found yet, and the bearish bias on euro is supported.

 

The pair failed to exceed the 20 moving average in the weekly chart, it makes the investors to get the short bias to euro.

 

But it is on the support line, the traders need to watch the chart carefully, whether the price is supported on the upward trend line.

 

If the upward trend line is broken, the currency pair plunges widly, Gjallarhorn thinks.

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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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