USD appreciation seems to be too quick, positioning is one-sided. Everyone expects parity in the pair, which might be the case, however prices will go and cause the utmost pain first. The downtrend has stopped at 1.05 and counter trend price action has started to unfold until the 1.10+ level. The price has retraced 50% of that move, and possible double top
formation might be spotted by careful technical analysts. Neckline of the pattern offers excellent long opportunity with tight stop level. If the EURUSD
will move up, it will happen here, or the double top
pattern and its broken neckline will drive the pair to 1.05 and later to 1.