[EUR] Plunging Euro 2021 0303

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

 

cf. [EUR] Rebounding Euro 2021 0303

cf. [EUR] EURO in the Correction 2021 0226

Gjallarhorn doesn't have any position after the liquidation in February.

The currency pair EUR/USD plunges at the beginning of the week. The pair which has broken through the 120 Exponential Moving Average retreats along the bottom band of Bollinger Bands in the daily chart. It fell to the fresh low since last November 25.

The euro has attempted to break the main downward trend line formed since 2008. This plunge can be interpreted, the attempt failed. It means that the euro dives forming the Head-and-Shoulders pattern in the weekly chart, and it may plunges to 1.16 or below 1.16.

The traders need to watch the price in the four-hour chart. If the euro exceeds 20 Moving Average with ease, it has more possibility of rising in the short term. If not, the plunge may go on.

It's the time to just watch the situation.

The U.S. Senate passed the massive fiscal stimulus package over the weekend. This raises the likelihood that this bill will be passed into law before enhanced jobless benefits expire on March 14.

The passage of the stimulus bill and the Non-farm Payrolls in last Friday boosted the dollar. And the rising U.S. Treasury yield supported the greenback, too. The 10-y yields exceeded 1.6 percent at once in the last week.

And the analysts at Bank of America predicted the dollar might be bullish more in the year. The expectation of the global economy recovery and the yield spread will support the dollar, they analyze. The U.S. news media CNBC foresaw the 10 percent of the U.S. economy growth in the first quarter.

Meanwhile a high-level official at the European Central Bank worried the recent Yield Curves. The European Central Bank releases its benchmark interest rate, the Main Refinancing Rate on Thursday. The markets expect it will be frozen. And the press conference is held after the release of the benchmark interest rate.

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

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

[Gjallarhorn][걀라호른][EUR] 반등 보단 관망이 필요한 유로화 2021 0306

[EUR] Rebounding Euro 2021 0303

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

 cf. [EUR] EURO in the Correction 2021 0226

cf. [EUR] Rebounding EURO 2021 0225

Gjallarhorn doesn't have any position, now after the liquidation in February.

The currency pair succeeded to rebound forming V pattern after the sinkage below 1.20, four-week lows in the one-hour chart and the four-hour chart. But it hasn't exceeded the 120 exponential moving average in the one-hour chart, and its breaking-though the 20 moving average in the four-hour chart hasn't been completed, yet. The rebounding is still unstable.

While its retreating and rebounding, the pair fluctuated in the sidling Bollinger Bands being supported on the 120 EMA in the daily chart. The currency pair prepares to rise to 1.21 level. It seems that the rebound of euro may be restrained below 1.2200~1.2241 which is the upper band of the Bollinger Bands and the previous peak respectively.

The greenback stepped down from monthly tops on Tuesday after the risk sentiment recovered on retreating Treasury yields, which eased off the pressure on the Fed to act amid concerns about overheating of the economy.

The expectation of the reflation, the spread extension between the U.S. Treasury yields and that of another countries' raised the U.S. dollar. The yields spread between the U.S. Treasury and German Bund enlarged to 170 basis points more at once.

The yields retreated as Lael Brainard, member of the Fed said that the Fed watched the movement of the markets.

Brainard said, soaring and pace of the Treasury yields in the last week were focused. "If we see the chaotic situation threatening our targets or the continuous increase in yields, we will be worried," she added. "We are paying close attention to the market development," she stressed.

And the concern about the rising yield in Eurozone rises, too.

An high-level official at the European Central Bank worried the recent Yield Curves.

And the analysts at Bank of America predicted the dollar might be bullish more in the year. The expectation of the global economy recovery and the yield spread will support the dollar, they analyze. The U.S. news media CNBC foresaw the 10 percent of the U.S. economy growth in the first quarter.

Meanwhile, Jerome Powell, Fed Chair spoke the dovish stance and predicted the inflation wouldn't reach the Fed's goal in three years at least while his testimony.

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

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