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| EUR/USD 1-hour chart, source: forexfactory.com |
My bias of Long position about currency pair EUR/USD is not changed yet. Because I don't find the ground for short bias yet. It doesn't mean trader should get long position now, but if you want to trade you'd better bet on long position on EUR/USD, that is, long Euro, short Dollar.
In weekly chart of EUR/USD, we find out that the price hasn't tumbled though English's decision leaving EU. A lot of market participants worried the parity between Euro and U.S. Dollar but it occurred yet. I think there isn't the parity in mid or long term.
In the technical analysis, there are not significant signals. The weekly chart of EUR/USD raises its bottoms midly though the Brexit result. The significant patterns aren't shown in 4-hour chart and 1-hour chart. The participants watch the market carefully and wait for the signal of entering the positions.
Meanwhile, Japanese Yen plunged over 1 percent against the greenback. The ruling coalition won by the landslide in upper house electons. Premiere Shizo ABE promised the more stimulus in economy during the campaign. The victory of ruling calition led the gain in the equity market and weak Yen in currency market on Monday. Abe has supported weak Yen for the economy recovery in Japan.
The Sterling fell under 1.30 record low in 31 years, but it try to jump over 1.30 recording 1.2975 at 13:00 (London Time). It doesn't rise over 1.30 and doesn't fell unde 1.2860. It moves in the narrow band, there is no significant trend in hours charts. In weekly chart, short position is available though the trying of rebounding in hours chart.
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