[EUR] Euro in the Correction 2020 0731

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

cf. [EUR] Still Rising Euro May Be Tested 2020 0724
cf. [EUR] LONG Bias to Euro 2020 0718
cf. [EUR] Rising Euro against Dollar 2020 0715
cf. [EUR] Euro's attempt on exceeding 1.13 2020 0629

Euro keeps its upward trend against dollar. It exceeded 1.16, 1.17 gradually and the currency pair EUR/USD faced 1.19 on Friday morning. Euro rose rapidly and it needed the break.

Euro retreats after touching 1.19, record-high in two years.

Euro has rallied in the short term, it seems to call the correction.

Gjallarhorn thinks the long bias to euro still valid, and recommends the investors to get the long positions of euro after the possible correction. Euro could retreat to 1.1630 or 1.1540, if Fibonacci is applied to the chart.

Greenback fell on Thursday due to the negative GDP growth and US President Donald Trump's tweet of the possibility of the postpone of Presidential election planned in this November.

An analyst at Western Union Business Solutions said, any type of economic or political uncertainties might make traders click ''Selling Dollar'', Yonhap Infomax reported on Friday.

He added, unemployment claims showed the economy was already tired.

---------------------------------------------
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[EUR] Still Rising Euro May Be Tested 2020 0724

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

cf. [EUR] LONG Bias to Euro 2020 0718
cf. [EUR] Rising Euro against Dollar 2020 0715
cf. [EUR] Euro's attempt on exceeding 1.13 2020 0629

The Euro long position Gjallarhorn has kept was cleared last Monday due to Gjallarhorn's misjudgment of trend-turning.

Euro keeps its upward trend against dollar. There were some corrections, it recovered its momentum though. Euro has broken through the price level, 1.13, 1.14, 1.15 and 1.16 gradually in short term. Euro is above 1.16 and will face the correction. But it seems euro to rise over 1.16 price-level if the upward trend is still available.

The important trendline, 20 Moving Average heads upward strongly in charts of currency pair EUR/USD. The angle of climb shows euro keeps rising against greenback.

The euro of the currency pair EUR/USD is forecasted to face the price resistance lines around 1.1750 and around 1.20. Because there isn't the explicit resistant price-band till 1.1750. It is predicted the long-term downward trendline may greet the currency pair around 1.20 later.

EU leaders agreed the economy recovery fund of 750 billion euros in Brussel on Tuesday. It made euro surge.

But geopolitical news doesn't support euro.

The US President Donald Trump closed down Chinese Consulate in Huston in the week, and his counterpart Xi Jinping commits the retaliation shutting down US Consulate in China.

The economy news agency Yonhap Infomax reported on Friday, Bank of America predicted greenback's climbing because the disappointing recovery of the global economy would make investors buy safe-haven dollar.

Meanwhile Christine Lagarde, president of ECB has spoken, euro had the more possibility of falling, and warned in last June that the European economy has passed the bottom, it may recover incompletely though. President's speak dropped euro.

Chris Turner of ING Bank has predicted 5~10 percent fall of dollar in the year.
---------------------------------------------
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[EUR] LONG Bias to Euro 2020 0718

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

cf. [EUR] Rising Euro against Dollar 2020 0715
cf. [EUR] Still Available Long Bias 2020 0711
cf. [EUR] Euro's Continuous Attempt to Hurdle Over 1.13 2020 0706
cf. [EUR] Euro's attempt on exceeding 1.13 2020 0629

Gjallarhorn keeps the long position of futures, euro-FX liquidated in September and is convinced euro would rise by the mild upward trend. And we can confirm that the signals from several chart show the rising euro.

Euro faces the price-resistance around 1.143x. It tries to break through 1.1430~1.1445, but it doesn't succeed yet. Gjallarhorn expects it rises above 1.1440 but nobody may affirm the euro's climb. The currency pair EUR/USD rallies above 120 Exponential Moving Average and 20 Moving Average heads upward in hours chart.

Euro against dollar has risen since July 10 after forming the correction. It broke through 1.14. Euro touched 1.14 temporarily in last month. The expectation of finishing of the pandemic and the possibility of agreement among EU leaders about Eurozone economy recovery package raises the risky asset such as euro gradually.

Dollar Index, greenback's value against the basket of six major currencies dropped 0.75 percent to 95.917 in this week. Dollar Index has risen above 100 in the early year.

Corna pandemic still spreads around the world, market participants expect the economy recovery though. Because economy signals show green light.

The rising cases of coronavirus infection slow the recovery of the US economy.

The Unemployment Claimed released on Thursday recorded the increase of 1.3 millions. The previous one was 1.31 millions and the market expected 1.25 millions increase. The worse record than expected one supported dollar and the pair should be retreated.

And the agreement of EU leaders about 750 billion euros, EU economy-recovery fund is expected, and it raised euro. But it is not certain, yet.

Haley of Oanda anticipated that the positive result may raise euro to 1.1450 and the others can make it drop to 1.13, economy news agency Yonhap Infomax reported.

But it reported, the market forecasts the agreement will not be made in this meeting, and additional meeting will be called.

Meanwhile Christine Lagarde, president of ECB spoke, euro has the more possibility of falling, euro fell in January and warned in last June that the European economy has passed the bottom, it may recover incompletely though. President's speak dropped euro.

Chris Turner of ING Bank has predicted 5~10 percent fall of dollar in the year.
---------------------------------------

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[EUR] Rising Euro against Dollar 2020 0715

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

cf. [EUR] Still Available Long Bias 2020 0711
cf. [EUR] Euro's Continuous Attempt to Hurdle Over 1.13 2020 0706
cf. [EUR] Euro's attempt on exceeding 1.13 2020 0629

Gjallarhorn got the long position of futures, euro-FX after the position liquidation as a loss. Because Gjallarhorn is convinced euro would rise.

Gjallarhorn still expects that euro will keep mild upward trend.

One of the major currency pair EUR/USD rallies from Tuesday morning after forming the correction. It broke through 1.14. Euro touched 1.14 temporarily in last month. The expectation of finishing of the pandemic raises the risky asset such as euro gradually. It seemed to be difficult to exceed 1.11 and 1.12 just two months before. It exceeded 1.13 as did 1.11 and 1.12 in turn being tested continuously.

The pair rises along Upper Band of Bollinger Bands in four-hour chart, and 20 Moving Average heads upward in four-hour chart, daily chart and weekly chart.

Over the past few weeks, the euro has been one of the best performing currencies. It rose to a nearly four-month high versus the U.S. dollar despite weaker-than-expected economic data.

Despite the Sino-U.S. tension and rising cases of COVID-19 in the United States, the expectation of coronavirus vaccine and the medicine supported euro.

The news of Moderna's vaccine development boosted Moderna's equity price and the risky asset.

And euro rose by the expectation of the possibility that EU leaders may agree the recovery fund package at the meeting on Friday and Saturday. It has been informed some leaders in Euro zone was opposed the supporting way.

There are negative news to euro. The tension between G2 still threatens the market participants. The Hong Kong National Security Law by Chinese government intensified the Sino-U.S. tension as well as the trade tension. Washington attacked Beijing head-on talking about the sensitive territorial dispute over the South China Sea on Monday.

The rising tension makes the investors buy the safety asset such as greenback and gold.

Meanwhile Christine Lagarde, president of ECB spoke, euro has the more possibility of falling, euro fell in January and warned in last June that the European economy has passed the bottom, it may recover incompletely though. President's speak dropped euro.

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

Gjallahorn does not provide any signals, but tries to bring traders to gain insight into the market.

You can ask by messenger and e-mail.
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FX마진이란 무엇인가#15

[EUR] Still Available Long Bias 2020 0711

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

cf. [EUR] Euro's Continuous Attempt to Hurdle Over 1.13 2020 0706
cf. [EUR] Euro's attempt on exceeding 1.13 2020 0629


Gjallarhorn got the long position of futures, euro-FX which in the loss section, but the position was liquidated as a loss. Gjallarhorn wasn't vigilant about the market.

But Gjallarhorn predicts that euro will keep mild upward trend though the correction.

One of the major currency pair EUR/USD exceeded 1.13 as did 1.11 and 1.12 in turn. But it was tested continuously, it was retreated several times.

The currency pair which broke through 1.13 attempted to rise to 1.14 on Wednesday. But it dropped under 1.1260.

The pair formed V pattern which shows a strong price-recovery in one-hour chart, and it hovers in stable Bollinger Bands in four-hour chart.

The 20 Moving Average in weekly chart still heads upward.

Meanwhile, the expectation of the vaccine against COVID-19 led dollar down though the spread of the respiratory virus.

Dollar Index, dollar's value against the currency basket of major six currencies fell 0.13 percent to 96.637.

Yonhap Infomax, economy news agency reported, U.S. dollar has moved with risky mentality and news about vaccine dropped greenback quoting trading expert.

It reported that Societe General's Strategist Kit Jukes said, if the US economy was weaker than expected due to the increase in COVID-19 diagnoses, the gap between the Eurozone and the growth rate between the Eurozone might weaken the dollar for the next year.

The Governing Council of the European Central Bank (ECB) will meet next week. Analysts at Danske Bank expected a repetition of recent comments from various board members. They see EUR/USD rising to 1.15 in three months.

And EU leaders meet on July 17 and 18 and try the final agreement about Europe recovery fund package. They will discuss EU MFF, spokesperson of European Council said on his twitter.

Some countries in Euro zone have been opposed the supporting way of the recovery fund by European Council, and it has been doubted the package will be passed in the committee.

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

Gjallahorn does not provide any signals, but tries to bring traders to gain insight into the market.

You can ask by messenger and e-mail.
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[물리I][묵조교] 해시계, 물시계, 수정시계, 원자시계

[EUR] Euro's Continuous Attempt to Hurdle Over 1.13 2020 0706

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

cf. [EUR] Euro's attempt on exceeding 1.13 2020 0629
cf. [EUR] Euro in the Correction 2020 0624
cf. [EUR] Unstable Euro 2020 0619

Gjallarhorn keeps the long position of futures, euro-FX, which is liquidated on September, and it is in the loss section.

One of the major currency pair EUR/USD begin to rise in the Asian morning. It tries to break through 1.13.

It already broke through the short-term downward trend line and reached the upper band of Bollinger Bands in the four-hour chart. The pair is above the 120 Exponential Moving Average in the weekly chart.

The momentum of euro supports euro to rise over 1.13. But it's not certain that euro will rise over 1.13 and keep the upward trend easily. Euro dropped from 1.14s and attempted to exceed 1.13 several times since mid June, but it has failed.

To look at the euro keeping 1.13 against dollar, we need to watch its attempts more. It retreated to the downward trend line and records 1.1285 as of 08:14(GMT).

Yonhap Infomax, economy news agency reported southern U.S. postponed reopening of economy and the recovery of U.S. economy could be slower if the blockage of economy spread quoting DowJones.

And EU leaders meet on July 17 and 18 and try the final agreement about Europe recovery fund package. They will discuss EU MFF, spokesperson of European Council said on his twitter.

Some countries in Euro zone have been opposed the supporting way of the recovery fund by European Council, and it has been doubted the package will be passed in the committee.

----------------------------------------------------
Gjallahorn does not provide any signals, but tries to bring traders to gain insight into the market.

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