[EUR] Euro Under the Adjustment

EUR/USD 1-hour chart, source: forexfactory.com

One of the major currency pair EUR/USD is under the adjustment. My bias about Euro is long still but it doesn't mean entering long position now. It is needed to wait till the signal or pattern is found. Under the adjustment, we need to just watch the market, I think.



U.S. Dollar hovers high against major currencies as well as Euro, now. Dollar Index hit the peak on Wednesday.



Technical analysis doesn't tell the reason of the adjustment though the chart includes and tells everything. And we need to be interest in fundamental analysis. It is needed to read news, too.



Trading website, Invest.com reported the global growth concerns still weighed on market consensus, the players expect Fed's decision of raising benchmark rate in this year and it led the rising of greenback.



International Monetary Fund, IMF modified the growth of world economy low cutting growth rate 0.1 percent point to 3.1 percent. IMF analysed Brexit of Britain's leaving EU made the uncertainty of European banks and global economy.



After Brexit vote U.S. Federal Reserve System hold the raising Fed fund rate, but its possibility of rate-rising in this year remains.



Meanwhile gold price rises. The overall trend is up, Bloomberg reported on Wednesday citing expert's statement. Gold has rallied 25 percent this year. The relation of U.S. Dollar and gold is more strengthened recently.

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