EUR/USD: At this point, there is the risk for some additional strength over the coming sessions, with the market easily establishing back above 1.4500 and showing no signs of any let up just yet. Overall however, medium-term price action remains quite choppy and we continue to like the idea of selling into rallies in anticipation of a more sizeable pullback below 1.4000. From here, look for a test of the upper Bollinger band by 1.4660 before the possibility of a bearish resumption back down towards 1.4000. Ultimately, only a close back above 1.4700 would negate outlook and give reason for rethink.
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