[EUR] Euro in the Roller Coast 2021 0622

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

cf. [EUR] The bullish Bias on EURO though the Concern of the Inflation 2021 0615

cf. [EUR] Rebounding Euro 2021 0504

Gjallarhorn keeps the long position of EUR at the CME. The positions are under the loss.

The plunged currency pair EUR/USD reduces the sliding speed and attempts to rebound.

Gjallarhorn expected the bullish euro but it fell due to the hawkish Fed's stance last week. The pair broke through 1.21, 1.20 and 1.19 continuously. It is 1.1884 as of 10:05(GMT) according to FXDD.com and tries to rebound.

But it seems to be difficult to rise to 1.20 soon. The daily chart shows the price of euro still is in the bearish trend, but euro gives the clues to rebound in the four-hour chart and one-hour chart. The reach to 1.1899 which is 20 Moving Average in the four-hour chart will give the hope of rise to 1.20.

The dollar rocketed last week retreated since Monday as the market left from the Fed's shock. The dollar index tracking the dollar against the major six currencies' basket fell 0.45 percent to 91.848 Monday.

But the market participants need to watch the Fed Chair's comment when Fed Chair Jerome Powell testifies at the House of Representatives, and the other members speak, too in this week.

James Bullard, President of the Federal Reserve Bank of St. Louis spoke, the economy went well than expectation and the tapering should be prepared at the forum last Friday. Mr. Bullard seemed to switch his position to hawkish.

Fed officials have already started the process of explaining their thinking, with New York Fed president John Williams taking a dovish tone Monday, saying more economic progress is needed before the central bank should begin to scale back some of its support.

The FOMC still froze the benchmark interest rate zero to 0.25 percent last Wednesday. But Fed Chair Jerome Powell supported the tapering and the hike of the interest rate twice next year.

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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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[Gjallarhorn][걀라호른][EUR] 허리띠 졸라매기에 들어간 Fed 2021 0619

[EUR] The bullish Bias on EURO though the Concern of the Inflation 2021 0615

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

 

cf. [EUR] Rebounding Euro 2021 0504

Gjallarhorn keeps the long position of EUR at the CME. It tried the pyramiding but the positions are in the loss term.

The currency pair EUR/USD which is in the correction since late May tries to rebound on the bottom band of the Bollinger Bands in the daily chart. And the pair tries to exceed the 20 Moving Average in the four-hour chart as the Europe session begins.

Though the correction, it confirmed the support on the bearish trend line and on the price of 1.21.

It is reasonable to keep the bullish bias on the euro against the dollar. And we need to watch the chart whether it exceeds 1.22 or not. If it succeeds to exceed the price of 1.22, we can expect its advance to the previous peak 1.2265 and the yearly peak 1.2333 respectively.

The Investing.com reported, the dollar slipped marginally lower in early European trade Tuesday, but just off multi-week highs ahead of the latest two-day meeting of the Federal Reserve. The Dollar Index, which tracks the greenback against a basket of six other currencies, was 0.1% lower at 90.442, but this was still near the top of its recent range at 07:50(GMT).

There is also the concern of the inflation in the U.S. economy. It would support the greenback. Ahead of the FOMC's meeting, the market was mixed.

The market participants expect Federal Reserved will keep its hyper monetary easing, but they are nervous about the economy records such as CPI and PPI. The good records may trigger the Fed's tapering. Janet Yellen, the Treasury Secretary spoke the possibility of the hike of interest rate in early the month.

The markets watch the possible Fed's tapering as the U.S. economy recovers from the bottom since last year.

A Forex analyst spoke, the Forex rates have fluctuated in the narrow band for weeks and it seems to keep the pace.

And FOMC release the Economy Projections and the statement in the Wednesday afternoon(GMT). It also shows the benchmark interest rate, the Federal Funds Rate. It is expected the benchmark interest rate will be frozen, 0 to 0.25 percent band. 

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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