Price action has been extremely choppy and unpredictable in EURUSD since the market topped out by 1.3030 a few days back and it is unclear at this pint in time whether we are on the verge of carving out a medium-term lower top or are prepping for the next upside extension towards the 1.3200 area.

EURUSD – Euro Forecast to Gain Versus US Dollar
GBPUSD – British Pound Likely to Rally
USDJPY – Japanese Yen Outlook Positive Amidst Sentiment Shift
USDCHF – Swiss Franc May Strengthen against Dollar
USDCAD – Canadian Dollar Forecast to Appreciate Against Greenback
GBPJPY – British Pound Forecast to Decline Against Yen

 

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The EURUSD drop below 12863 may have completed an expanded flat from 13010. As such, price may continue higher towards the long cited target zone of 13115-13185.

In words of Nikhil Hutheesing, assistant managing editor at DailyFinance, Gary Shilling, president of A. Gary Shilling & Co. may be the economist investors most love to hate. They love him because he is right, but they hate him because he has long been the bearer of bad news.

Even though the strong reverse of the Euro against the Dollar from lows - 8% - he still sees parity in EURUSD.

What do you think?

Francesc