[EUR] Turning to Neutral Bias

EUR/USD 1-HOUR CHART, SOURCE: FOREXFACTORY.COM

WTI YEARLY CHART, SOURCE: BLOOMBERG.COM

I have kept the long bias about Euro versus U.S. Dollar. But it's time to change my bias to neutral, I think. It's better just watch the market and wait the opportunity.



I have paid the attention the rebound from the bottoms and rising bottoms midly. But whenever it rises it faced the adjustment and failed break through previous peaks. It has lowered its peaks since Britain's vote. On Monday, one of the most effective currency events, German Ifo Business Climate is announced. It recoreded 108.3 higher expected value 107.7. The currency pair EUR/USD rose as soon as the index is known. But that's all. Euro was under the adjustment again and failed to keep the upward trend. It means that it's not time to Euro's rising. Main trend is no trend or downward.



Euro has tried to make the upward trend but failed to break peaks. It seems to lowered its peaksand bottoms inch by inch.



The circumstance around Euro isn't optimistic. The price of WTI, West Texas Intermediate turned down. After the double-bottoms pattern in January and February, it rosed toward 50 USD but it failed to break through the price level but it's under the adjustment. Worries in bond market makes to watch the market pessimistically.



And it's hot summer. Most of market players take vacation. We had better take a break, too.

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