[EUR] The Technical Rebound of Euro 2022 0522

 

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

cf. [EUR] The Greenback in Correction 2022 0517

cf. [EUR] Soaring Greenback 2022 0514

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 no position  in CME and just watches the market.

The currency pair EUR/USD retreated on Friday, but it rose one big prior day exceeding 20 moving average in the daily chart. The pair rose from the support line and has the momentum to the upper band of the Bollinger Bands in the daily chart.

It touched 120 exponential moving average in the four-hour chart. It could retreat below the support line, 1.0434. But the rising momentum is found in the daily chart, the euro could rise over 1.07.

The double-tops pattern is found in the one-hour chart. It implies the bearish euro.

The signals from the hour-size charts tell the strong dollar, the daily chart and the weekly chart show the rebound of the euro though.

Jerome Powell, the Fed Chair spoke, the interest rate would be risen continuously till the inflation under the control last week.

Esther L. George, president of the Federal Reserve Bank of Kansas City spoke the Fed watched the tightening in the financial situation, not the effect to the stock market in the interview. 

And the traders need to listen to the news of the possible interest hike by the European Central Bank. It is acknowledged the Fed's big step and the investors prepare the event. But the events from the ECB begin to loom. The market participants may react the ECB's action.

Christian Lindner, German finance minister spoke, the bearish euro raised the inflation and press the rate hike by ECB though the recession risk.

There are the views supporting the strong dollar.

The Forex analysts on ING have spoken, if the risk-averse sentiment is on and the equity markets are bearish, the Dollar Index might exceed over 105.

Some Forex strategists expect the currency pair EUR/USD may fall to 1.02s in a quarter.

And the FOMC's Meeting Minutes last month is released on Wednesday. And the preliminary GDP in the U.S. is released Thursday.

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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. 

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[EUR] The Greenback in Correction 2022 0517

 

cf. [EUR] Soaring Greenback 2022 0514

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 no position  in CME and just watches the market.

The currency pair EUR/USD edges high since Friday. The pair touched the 120 exponential moving average and tries to break through it in the one-hour chart on Tuesday(GMT).

The pair also exceeded 20 moving average in the four-hour chart since last Friday.

The EUR/USD moves upward gradually exceeding 20MA, it seems to reach the 120 exponential moving average, around 1.053x in the four-hour chart. It can rise to 1.052x, bottom of the price-mixed zone.

It may retreat after the first touch of the meaningful price bands. If the trend turns to upward, it will be succeeded in the second touch or more attempts.

Though its rebounding, the bias to the euro is still short, Gjallarhorn thinks.

After FOMC meeting in the early month, the Fed Chair, Jerome Powell spoke that there wouldn't be a giant step, 0.75 percent hike of the benchmark rate. He acknowledged the soft landing of a low inflation and high growth is very difficult at a radio broadcasting interview on last Friday. He spoke he believed, the U.S. economy would avoid the recession.

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

The Fed will use the tightening policies against the inflation, it concerns the investors about the recession.

The experts on Forex still predict the strong dollar.

The Forex analysts on ING spoke, if the risk-averse sentiment was on and the equity markets were bearish, the Dollar Index might exceed over 105.

Some Forex stragests expect the currecy pair EUR/USD may fall to 1.02s in a quarter.

Meanwhile an expert in an asset management has forecasted the parity of the euro and the dollar in a half year.

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

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

[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.

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

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