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- Rise of the USD – How high can it go with - November 14, 2018
- VIDEO – Targets for GBP, USDJPY and EURO - October 5, 2016
- RBA Meeting Preview - October 3, 2016
- How to Trade the Dollar into the Presidential Debate - September 26, 2016
- Here’s How to Trade the Sept ECB Rate Decision - September 7, 2016
- Bank of Canada September Preview - September 6, 2016
- Will August Payrolls Disappoint the Dollar? - September 1, 2016
- Where is the Dollar Headed this Week? - August 29, 2016
- Will Aug NFPs Help or Hurt USD/JPY? - August 4, 2016
As you know, I have been very bullish EUR/GBP this week. On Monday, I showed you this chart of EUR/GBP and told you that is headed for 90 cents from 87 cents and today it has pretty much reached that level. The high in EUR/GBP was 0.89978, 2.2 pips from my 0.90 target.
One of the questions asked in the comment section of my blog earlier this morning was “Is it time to sell near .90 or will it continue to slowly go up?”
As you can see in the chart below, the retracement off of the 90 cent high was pretty brutal. Although I think that EUR/GBP could hit parity, we may be due for an even larger correctionthat could take the currency pair back to 0.8750.