This is Bound to happen very soon..
Fundamentally, Europe`s data is getting crunched and taking a beating since start of 2018.
Technically, Euro is oversold in short term and the retracement is more based on technical and short term geopolitical and Fundamental jitters caused by the POTUS.
The move from 1.1620 to 1.2050 would be very much on the anticipation that FED is surely raising rates in September but not sure of December and ECB will reduce bond tapering and with that increased expectation of ECB to raise rates.
Overall, even if FED does raise rates next year (if not in December), then USD buying will start (Also, all fundamentals in the US is improving).. and the next opportunity to dip your toe is very near.
Fundamentally, Europe`s data is getting crunched and taking a beating since start of 2018.
Technically, Euro is oversold in short term and the retracement is more based on technical and short term geopolitical and Fundamental jitters caused by the POTUS.
The move from 1.1620 to 1.2050 would be very much on the anticipation that FED is surely raising rates in September but not sure of December and ECB will reduce bond tapering and with that increased expectation of ECB to raise rates.
Overall, even if FED does raise rates next year (if not in December), then USD buying will start (Also, all fundamentals in the US is improving).. and the next opportunity to dip your toe is very near.