Fifth straight session making lower lows than the previous. Merry Christmas we have LSD.
“…Economists at Citibank said a combination of tighter monetary policy in the US and the prospect of more loosening in the eurozone meant the single currency was on its way to parity with the dollar. Citibank has forecast that one euro will only be worth $1.10 by next September, from around $1.22 today. It expects the euro to fall below parity to $0.99 in 2016 for the first time since December 2002.”
source:
Dollar dominance to push currency towards parity with euro - Telegraph
Well, with only fifty pips from touching down on 1.20, it looks like my projection is out by eleven months… However, it is too early to say whether there will be a bounce or not…