[B]My picks:[/B] Waiting for An Opportunity to Sell EUR/USD
[B]Expertise:[/B] Global Macro
[B]Average Time Frame of Trades:[/B] 1 week
The US dollar has been under a heavy selling pressure. Recently, the US Federal Reserve announced quantitative easing measures to support the economy and with the US government budget deficit widening at a frightening pace investors have begun to question the safe-haven status of the US currency. Yet, I think is not wise to sell the dollar around these levels since its never wise to chase a trend and we may see a pullback on dollar losses, most likely triggered by profit taking.