Exto Capital EURUSD Technical: Short Euro Trade is Crowded

Next week the euro could test the 20-day moving average, which comes in near $1.2230. The euro has not closed above its 20-day moving average for nearly two months. Further out, if this is going to be a genuine correction instead of a flattish consolidation phase, the euro could rise toward $1.25.

Analysis provided by Exto Capital