[EUR] Soaring Greenback 2022 0514

 

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

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 liquidated the positions of euro in CME and watch the market.

The bearish trend on the euro is explicit.

The retreating euro fluctuates in the narrow channel and continues to fall in the four-hour chart. The currency pair, EUR/USD slips along the channel between the bottom band and the middle band in the Bollinger Bands, the daily chart, and slides down along the bottom band in the weekly chart and the monthly chart.

The traders can confirm the 120 exponential moving average work as the resistance line in the four-hour chart.

The Dollar Index which tracks the greenback against the currency basket of six peers edged down after recording high in 20 years on Friday. And the euro rose. The rebounding of the euro on Friday is looked to be the technical rebound. If the traders want to confirm the bullish on the euro, the price of the pair should be confirmed around 1.0465, 20 moving average and 1.057s, the resistance band in the four-hour chart.

An expert in an asset management forecasts the parity of the euro and the dollar in a half year.

After FOMC meeting in the last week, the Fed Chair, Jerome Powell spoke that there wouldn't be a giant step, 0.75 percent hike of the benchmark rate. His comment boosted the market, but the market sank again. Gjallarhorn thinks, the U.S. benchmark rate will hike whether the big step or the giant step. And Powell supported the big step in the next meeting.

He acknowledged the soft landing of a low inflation and high growth is very difficult at a radio broadcasting interview on Friday. He spoke he believed, the U.S. economy would avoid the recession.

But some Fed members claim the giant step against the inflation.

Loretta J. Mester, president and CEO of the Federal Reserve Bank of Cleveland claimed the more hawkish rate hike and supported the pace of hike speed would be quick if the inflation wasn't controlled in September.

It seem to be reasonable to hold the short bias on the euro though euro's rebounding.

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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.

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[Gjallarhorn][걀라호른][EUR] 숨고르기에 들어간 달러와 유로 2022 0410

[EUR] The Reverse-V pattern and the Euro 2022 0406

 

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

cf. [EUR] Rounded Euro still under the Short Bias 2022 0319

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 the short position of euro in the loss, CME now.

As April began, the dollar began to gain ground.

The one of the major currency pair, EUR/USD plunges after touching 1.1183 on March 31. The surged euro fells sharply against the dollar making a sharp peak. It formed the reverse-V pattern in the four-hour chart. 

The pattern succeeded and the euro fell below the fluctuated zone, it may rebound or continue its bearish trend.

But the direction of 20 Moving Average in the four-hour chart support the additional decrease of the euro. And the price of the currency pair lowered the peaks moving in the channel between the 20-moving average and the bottom band in the weekly chart. It support the bearish trend of the euro.

The more hawkish stance of the Federal Reserve and the war by Russia in Ukraine supported the strong dollar.

Lael Brainard, the Fed vice-chair nominee said, the reduction of the inflation is the Fed's priority and her statement boosted the U.S. treasury yield.

She said, the FOMC would do Quantitative Tightening by the continuous rate-hike and the tightened balance sheet, May in the on-line speech.

And the Dollar Index which tracks the dollar against the currency basket of six peers rose 0.49 percent to 99.490 on Tuesday. It touched 99.523 recording high since May 2020, for a while.

The market participants await the release of the FOMC meeting minutes on Wednesday(GMT). They try to get the clues to the interest-rate hike. The European Central Bank releases its meeting minutes on April 7.

The investors expect the big-step hike as the Fed yield futures anticipate 80 percent of the 0.5-percent rate hike.

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

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