Dollar Bulls are Liquidating

The strong Euro rally is now causing USD bulls to liquidate their positions. While the Euro is now overbought, it does look set to test 1.14 and the 1.16 in the coming weeks. However, a move to those levels may need a deeper correction to 1.0875, and that may take longer to play out. The data expected this week is unlikely to affect the market, though there is always the chance of unexpected political news. Read More on eurusd.co