Sunday, 6 June 2021
Tuesday, 4 May 2021
[EUR] Rebounding Euro 2021 0504
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| 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.
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Gjallarhorn does not provide any signals, but tries for traders to get the insight into the market.
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Monday, 26 April 2021
[EUR] Bullish Trend on Euro 2021 0426
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| 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.
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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.
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