I’ve read some very bearish EUR analysis from very respected sources but I just don’t think that market price action backs it up. The crosses have made very large gains and despite the usual pull-backs pairs like EUR/JPY, EUR/GBP and EUR/AUD are obeying technically-bullish characteristics. Sure the USD looks very strong but based on what the market is telling us, if you want a long-term USD long position then you’ll have better luck elsewhere than EUR/USD.
In fact if you like the EUR crosses overall higher and you think pairs like cable and AUD/USD are looking tired, then long EUR/USD for a return to 1.37 doesn’t look like a bad idea at all?