[JPY] Risk-On Setiment 2020 1201

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

 cf. [JPY] Stable Yen 2020 0910

There is a downward trend line in the daily chart of currency pair USD/JPY since late February. It supports the short bias of US dollar against yen.

And the pair succeeded in rebounding on Monday. Before facing the resistance line by the daily chart, it seems to rise in the short term. There is about one big margin. It means the weak yen and risk-on sentiment. 

The greenback was down on early Tuesday due to the risk-on sentiment in Asian session. And risk-off asset yen retreats, too. It fell against major currencies including the US dollar.

The Dollar Index tracking the greenback against major currency basket succeeded in rebounding though the risk-on.

The market's expectation of more monetary easing measures from the Federal Reserve lowers the safety asset such as dollar and yen. Yen is more safe than dollar and the yen retreats more than the greenback.

The hopeful COVID-19 vaccines by Pfizer and Moderna for distribution stimulate the markets, though rising virus cases.

Dallas Fed President Robert Kaplan said on Monday that difficult months lie ahead. "We're bracing ourselves here," he said, adding that the central bank is open-minded about shifting or even expanding its bond buying program.

The President-elect Joe Biden appointed Janet Yellen, the former Fed Chair as the Threasury Secretary.

And U.S. FOMC meeting is held on December 17. The market participants expect the more market-friendly policy of FOMC but lower their expectation of the US fiscal stimulus in the year.

Meanwhile Gjallarhorn liquidated the long positions of euro-futures in CME, Chicago Mercantile Exchange.

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

Gjallahorn 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, #JPY, #yen, #USDJPY

[Gjallarhorn][걀라호른][EUR] 1.20을 눈앞에 둔 유로화 2020 1130

[EUR] EUR, Preparing to Exceed 1.20 2020 1129

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

cf. [EUR] 반등하는 유로 2020 1125

cf. [EUR] EUR, trapped between the Resistance and the Support 2020 1124

cf. [EUR] Enlarging Volatility 2020 1119

cf. [EUR] Bullish Euro? 2020 1117

Gjallarhorn keeps the Long position of euro in the futures market, CME. It still records the loss.

The currency pair EUR/USD finished the week with gain while US holidays, Thanksgiving Day. 

The one of the major currency pair, EUR/USD which ended the week with 1.1958 gives the market participants the strong signal of poising to break through 1.20. And it ready to face the major bearish trend line which has been built since 2008. 

The major downward trend line passes around 1.20 in this week. The exceeding 1.20 of euro means the new trend will be formed.

The 20 Moving Average in hours charts, daily and weekly charts direct upward showing the rising momentum.

But we need to watch the external news as well as the technical analysis.

When euro tries to exceed the meaningful price level, it retreated. The re-proliferation of COVID-19 disturbed the rising of euro. The third wave of rising infection cases makes the investors' risk-averse sentiment, euro down and dollar up.

And the news of vaccine development by the pharmaceuticals turns on the risk-on sentiment.

The passive re-proliferation of COVID-19 and the optimistic vaccine development make the euro fluctuate.

Meanwhile Charles Evans, governor of Chicago Fed. expected the near-zero interest rate of Fed. might be held till 2024. It hints the weak greenback for a long time.

The Forex strategist of the French bank, Societe Generale has forecasted the euro would be bullish if the yield spread between eurozone and counterparts becomes narrow and prospected 1.1920 might be the last resistance line to proceed to 1.20, before.

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

Gjallahorn 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