DislikedHey guys,
I have been on the sidelines for EUR/USD forever. I chose to trade USD/CAD strictly.
However I see a nice weekly opportunity to enter long on E/U. I'll wait until 1.33 breaks once more and significatly and then go long with target above 1.39.
Looking at the weekly chart I think it's rather clear that the EURO is still consolidating and finding it's median price since it's fall.
I think the ECB has outstanding liquidity swaps which it will soon unwind that would undeniably support this theory.
Does anybody have detailed balance...Ignored
Its pretty much a fight between the Fed and IMP/ECB on who can keep their currency from appreciating...and its pretty clear to me that the ECB has the most trouble ahead...as the US economy is still chugging along somewhat.