I might be crazy, but I still think its a good idea to buy the EURO dips below parity. The bottoming keeps going on and the only thing that took it back below parity on friday was news about Nord stream maintenance. Market kind of blew the whole thing out of proportion with an almost 90 pips drop, but for me its just another good buying opportunity. Its currently scalpers heaven, you get in and get out for 50-100 pips and keep repeating. Next week we have an ECB meeting on thursday where a 75bps hike is expected and I also expect the Nord stream issue to be fixed soon, so all that should help euro to climb up a bit again. What is helping the cause is a strong topping on USDCHF chart, strong bottom of 1.15 on the GBPUSD chart and also overall topping on the USD basket chart. Or I might be completely wrong…we will see what the market does next week.
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