This week, we had a tough fight at 90 again, howering below until friday, when dovish ECB finally made it spike above and London fix did hold it above, too. It might seem minor, but its actually a big fight at this level and when the fight is over, dollar should appreciate towards 93+. FED kept talking about tapering, well, mainly Kaplan again…and ECB started talking about not tapering anytime soon, so all this should transform into the chart soon. Technically, EU is now turning bearish and USDx bullish, fundementally its been like that for quite some time. But thats normal, fundamentals always need some time to be “displayed” on the chart. So, unless something surprising happens next week, USDx should turn bullish. I am expecting retail to start building longs on EU next week, as it drops, which should help accelerate the down move.
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