cf. [EUR] The Restricted Rise 2022 0719
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 of the euro in CME, now.
The currency pair EUR/USD fluctuated in a channel plunged ahead of the FOMC meeting and rebounded after the FOMC meeting.
The pair returned into the channel. It seems that the pair tries to exceed the channel ceilling and 120 exponential moving average in the four-hour chart.
But it's unlikely the euro break through the 120 EMA and makes a upward trend, yet. It may not exceed 1.0350 reinforcing the bearish trend though it exceeds the channel and the 120 EMA in the four-hour chart.
The currency pair seems to continue the fluctuation between 1.0130 and 1.0265 for a while.
The Federal Reserve hiked the Federal Funds Rate 75bp to 2.5 percent. It was the giant step as the markets expected. The FOMC hiked the benchmark rate 75bp twice in a row, the dollar fell though. The Dollar Index tracking the greenback against the six peers basket dropped 82bp to 106.373.
The rate hike was in the markets' expectation, the dollar lost the upward momentum though the recession risk.
The surging inflation world wide has pressed the central bank hike their benchmark interest rate. The European Central Bank, ECB has gotten the big step, too.
The U.S. CPI in June rose 9.1 percent from June last year. It was 8.6 percent in May.
It is reasonable to think the Fed raises the FFR in September, too.
------------------------------------------
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, #FOREX, #FXMargin, #EUR, #euro, #EURUSD
No comments:
Post a Comment