FxWirePro Call Review: Euro likely to test 1.2 area on a weaker dollar; book partial profits

In March this year, we have called on our readers to go short in the euro, at the then current rate of 1.218 against the USD with a target of 1.17 area. https://www.econotimes.com/FxWirePro-Call-Review-Euro-short-term-outlook-revised-from-bullish-to-bearish-targeting-117-1178120 and in follow up reviews, here https://www.econotimes.com/FxWirePro-Call-Review-Maintain-short-positions-in-EUR-USD-ahead-of-ECB-1275745  and here, https://www.econotimes.com/FxWirePro-Call-Review-Maintain-short-positions-in-EUR-USD-target-revised-lower-1315385 we have extended the target to 1.145 area.

However, our latest calculations suggest that the euro might recover and retest 1.20 area. So, we would like to urge our readers to cover more of the short positions and wait to re-enter later. Or more short-term swing players could go for long with the recent bottom as the stop loss. However, we are not yet very bullish on the euro.

The euro is currently trading at 1.17 against the dollar.