Pashabxl
Long

EURUSD: At least toward a technical correction

FX:EURUSD   Euro Fx/U.S. Dollar
As I have underlined yesterday, EURUSD             is about to form a falling wedge with 1.33 at the bottom.
EURUSD             may face in addition to that ch             artist situation a technical correction n the upside for two reason.
1- USD has gained too much of a value against EUR and if EUR is oversold, USD is overbought.
2-FED's high level officials are questioning the timing to raise the interest rate not because they need to slow down the economy but rather because of the risk of inflation i.e that USD would loose its value based on inflation.
Of course the equilibrium between demand and supply for each currency is also of the utmost importance. Having said that at the present time, there is a room for an upside on EURUSD             this could either be a technical one, or a structural upside. Target would be 1.3480 and 1.355. Let's wait and see.
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