The EURUSD looks like it could rally in Europe tonight (as it did on Friday night). The market appears to be to heavy on the USD exposure in most crosses, in particular against the EUR. With the ECB holding interest rates unchanged last week, that should give the unit a boost for the next couple of weeks as it suggests the ECB is more reluctant to cut rates much further (perhaps one more). The recent extra dip in the US stockmarket without a corresponding dip in thr crosses against the USD (with exception yen) suggests the risk is now to the upside for most crosses (exception yen). Buy EURUSD 1.2677, Targetting 1.2830 - 50, Stop Loss 1.2585
