Bullish EUR party starting to pick up steam
EUR/GBP, EUR/CHF and EUR/AUD have started to join EUR/JPY on the bull run and whilst the latter has already come a long way, the other crosses look like they have a lot of catching up to do.
I’m still running long positions in the EUR against the GBP and the CHF but unfortunately I got stopped out of EUR/AUD last week right near the base. It’s hard to get them all right.
On the day, we can expect 120 in EUR/JPY to act like a magnet and in the other crosses we need to watch out and see if the speculative FX market now starts turning bullish. If it does, we could be in for 3 or 4 weeks of gains as positions start to build.