[EUR] Fluctuating and Bearish-like EURO 2021 0323

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

 Gjallarhorn doesn't have any position just watching the market.

The currency pair EUR/USD fluctuates in Bollinger Bands in the four-hour chart. It rose bridging the gap on Monday. But the pair just moved up and down without the meaningful signal.

There is still the possibility of forming the Head-and-Shoulders pattern in the weekly chart, the traders need to prepare the price may fall to 1.18 at first and 1.16s next step.

It is reasonable just to watch the market without getting positions for a while. It is not late to get the short or the long position after confirming the trend.

The rising dollar which recorded high in four months turned the direction to downward on Monday, as the US 10-y Treasury Note yields dropped under the 1.7 percent and was stable.

Jerome Powell, the Federal Reserve Chair affirmed the monetary easing policy in the long term contributing to the mass media, and it helped the dollar to be corrected.

Thomas I. Barkin, the governor of Federal Reserve Bank of Richmond spoke, the inflation should be out of sight for six months and tried for the stable bond market.

And the sudden exchange of the Turkish Central Bank's governor called the risk-off sentiment.

The market participants have thought the bearish greenback due to the vaccination against COVID-19 and the expectation of global economy recovery since last forth quarter. But the expectation of the U.S. economy growth called the yields' rising, and it raised the bullish dollar. And the insufficient vaccination in Europe has supported the strong U.S. dollar. Because they think there will be gap between the U.S economy growth and Eurozone's more and more.

It is reported, JP Morgan increased the dollar position in its Forex portfolio.

Edward Moya, a senior market analyst with OANDA said, the short trend became ease in the bond market and it made the investors just watch the dollar and its counterpart

Meanwhile, the Wall Street Journal analysed that the possible inflation in the United States might control the bullish dollar last Friday. The Dollar Index which is stable relatively fluctuating 91.0 may another factors, the media diagnosed.

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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] 뚜렷한 추세를 기다리는 유로 2021 0321

[EUR] Awaiting FOMC Conclusion 2021 0317

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

 

cf. [EUR] The Unstablel Euro while Rising 2021 0311

cf. [EUR] Plunging Euro 2021 0308

Gjallarhorn doesn't have any position just watching the market.

The one of the major currency pair EUR/USD failed to rebound after forming the double-bottoms pattern in the four-hour chart. The pair stepped down to 1.1885 and tries to recover again.

The euro attempts to make the doubl-bottoms pattern in more large scale, in the four-hour chart, and it may raise the euro.

But the retreating EUR/USD goes sideways waiting for the U.S. FOMC meeting which gives hints about Federal Reserve's monetary policies. The watching the market may be better than the dealing ahead of FOMC press conference.

The currency pair EUR/USD fell 0.1% to 1.1892, near three and a half weeks low of 1.1835 as concerns grow about further lockdowns in Europe and delays in vaccinations. German government and French's halted the vaccination of AstraZeneca.

But German economy is confirmed to recover by the economy index of ZEW Economic Sentiment. German ZEW Economic Sentiment was released 76.6 better than market expectation 74.0.

The Federal Reserve concludes its two-day policy meeting later Wednesday, and is expected to update its economic forecasts to predict stronger U.S. economic growth in the wake of a ramped-up Covid-19 vaccination program and 1.9 trillion dollars in new stimulus.

The analysts at ING said, a substantial shift in tone by the FOMC appears unlikely and markets would probably remain unfussed by a mere reiteration of the 'lower-for-longer' pledge despite improved recovery prospects in a research note.

The Fed is predicted to keep its easing monetary policy for a while, the concern of the inflation in the United States is still rising. The market participants expect there will be a comment about the rising bond yield after the FOMC meeting. The U.S. economy reportedly has grown most quickly in ten years and the unemployment rate lowers, and they give the traders the concern of the inflation. Jerome Powell has spoken that Fed doesn't worry about the yields seriously, which made the yield surge.

Meanwhile a forex analyst Joseph Travasani at FXStreet.com spoke, the main momentum of the dollar was the U.S. yields and it wouldn't change. 

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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