Pashabxl
Long

EURUSD: At least an upside correction

FX:EURUSD   Euro / U.S. Dollar
Buy rumor and sell news. That is exactly what happened to EURUSD             pair.
One thought that FED would increase sometimes this year its interest rate because FED achieved already its target of 2% of inflation .
The news is that they will not do it yet although the target seems to be achieved.
From over reaction to over reaction, EUR has been too much weakened and the market will at least execute an upside correction, if not will over react on the other side.
Although it is unlikely that we can see Eur above 1.385, the balance of power between EUR and USd remain stil lat around 1.366. Therefore an initial upside correction towards 1.335-1.34 . But bare in mind that when FEd will increase its interest rate,n don't think about a EUR above 1.30. I will remind it to you.
This is the final upside stream of EUR before the pair goes bellow 1.30 because FEd will increase its interest rate at the time where ECB will not be in a situation to do so and in particual when ECB will have launch its R-LTRO or ABS.
Should today settle above 1.3292, I'll dump short position and look to go long to 1.3500 area.
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