Bullish EU...

Not 100% ready to long for the long-term. I believe Dollar is about to give another little dart up. Expect the unexpected!

Here are a few reasons why.

Monthly Quadratics - shows another little move up (White line) - So we assume overall long momentum.

The weekly DXY chart stochastic shows an overbought situation - Suggesting another push up for EU. So again Bullish momentum.

So why do we think, an unexpected move is due?

Take a look at the daily move coming for DXY. Most Retail sentiments show earlier entrants on long EU positions. And that is overly obvious!!!

The Basket of currency tools also show Euro is not as strong as one would assume. This can be shown in the stochastic view on the monthly chart for EU.

Let's see what COT data suggests later on today.

Sat on the fence until further confirmation.

Have a great weekend.




Disclaimer
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We might get a bounce off the X-Trend and mid-Regression. A drop before going through on the next attempt.

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