US Dollar had another bullish week and both EU and GU have been suffering. But the more they stay in the current range, the higher my final target will be for the upcoming bullish move. Initially, I was looking at 1.12, now I am considering 1.15+ even, possibly higher. US dollar is overstreched and Powell’s speech on friday might have been the final nail on its coffin. Even though Powell was slightly hawkish, US Dollar stayed in the daily range and started dropping after London fix. So EU is still trading around 1.08 after all those hits it has been getting over the past few weeks. Now should be the time for a move up. Gold already did its bottoming and turned bullish on a weekly reversal, which should help EU, too.
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