EURUSD is following the path and the pattern we have forseen for the last days and weeks.
The first move was towards 1.3980. Then a sharp fall until 1.3485.
Now the trading plan is the last try of EUR towards 1.375, 1.382 and 1.385. Depending on the timing and the momentum, the market may try to hit EUR high towards 1.40 before ECB makes a clear intervention.
I would like to REMIND YOU what ECB President said about EURUSD parity. Above 1.41, EU looses its competitiveness and therefore ECB would intervene.
Now at the present situation , for those who are following closely and reading my analysis, We are at the present time around 1.3685-1.3690. The indicators show clearly that we are at an overbought level, therefore we may face a little correction downwards to 1.366-1.364 but not more then that. If at the correction RSI is still above 50 and that is what I do forsee, then we will go up until .1372 and 1.375. We would achieved two third of our headline goal that remain 1.385.
The first move was towards 1.3980. Then a sharp fall until 1.3485.
Now the trading plan is the last try of EUR towards 1.375, 1.382 and 1.385. Depending on the timing and the momentum, the market may try to hit EUR high towards 1.40 before ECB makes a clear intervention.
I would like to REMIND YOU what ECB President said about EURUSD parity. Above 1.41, EU looses its competitiveness and therefore ECB would intervene.
Now at the present situation , for those who are following closely and reading my analysis, We are at the present time around 1.3685-1.3690. The indicators show clearly that we are at an overbought level, therefore we may face a little correction downwards to 1.366-1.364 but not more then that. If at the correction RSI is still above 50 and that is what I do forsee, then we will go up until .1372 and 1.375. We would achieved two third of our headline goal that remain 1.385.
