Tuesday, 31 May 2016

Short Bias Available in Short Term

EUR/USD 4-Hour chart, source:forexfactory.com


The four-hour chart tells the downward of EURO against US Dollar. And we have no difficulty of expectation of weak Euro for a while. What do we forecast with the plunging with some adjustments chart? 

It seems to be reasonable that watch the market with short bias though we don't ask to toddler whether it's long or not.

EUR/USD weekly chart, source:forexfactory.com

And what does the weekly chart of EUR/USD tell us? The major currency pair EUR/USD has traveled on downward trend since 2014. The short bias is seemed to be available. But the pair tried the rebound from the last year on the weekly chart. It didn't turn the direction up but didn't helplessly fall more. The historical parity of EUR/USD, h1 EUR = 1 USD' may make the participants burdensome. Euro, fallen near the parity, raises its bottoms. This plunge may be interpreted the adjustment in the weekly chart.

The short position by the simple idea from the hours charts may harm the account, the weekly chart tells.

In June, the important economic events are planned. And it's need to be watched the some economic news. On Wednesday (01:00, GMT) China speaks its Manufacturing PMI, OPEC meeting is hold on Thursday. ECB, European Central Bank speaks the Minimum Bid Rate at 11:00(GMT) on Thursday. The most powerful periodical economic index, U.S. Non-farm employment changes is announced at 12:30(GMT) or 8:30(US Eastern Time), Friday.

In late June, the English referendum about the Brexit is held.

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