Bonus Trade: Buy EUR/USD for Target 1.22

Looks like the US Fed policy statement today has ended the USD rally, and we could see solid short covering rally in EUR because the shorts are rushing to square off their position today. Today is the first day of clear BUY signal, so this long Euro trade should go on for next several days. Buy EUR/USD for Target 1.22, and 1.30 is also possible depending on the momentum of short covering and if we get some positive economic news from the Eurozone in next 2-3 weeks.

eur-usd-chart-18mar2015

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