Quote:
quote:Lone Olesen - Jyske Bank
EUR/USD is treading water right above the psychological threshold 120. A definite break is, however, only a matter of time. Now I strongly believe that the long mentioned correctional B-wave is history, and instead we are headed towards the rewarding C-wave that at the outmost could take EUR/USD all the way down to 103.
Of course a move like that will not happen overnight, but one should be prepared that renewed volatility will arise and most likely be a big surprise to many a marketparticipant. Once we break 120 the next
psychological threshold will be centered around 118.70 the
previous bottom in EUR/USD. A break here will though pave
the way towards a revisit with 115, constituting the first area of
strong support.