Nordea FX Strategy Research argues that despite being long-term optimists on EUR/USD, the strong recent momentum of the pair has been surprising.
“A lot of good news should already be in the price for the EUR, just as most bad news should be in the price for the USD (this suggests a reversal).
…But given recent strong momentum, that the move appears flow-driven, and the technical damage done, it’s probably unwise to be first in line to try to sell the pair,” Nordea advises.
Source: Nordea Research
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