Progressively, EUR is gaining against USD as we have foreseen. Of course it is like a GOLF game. From 1.355 to 1.375 there is 4 handicaps. We have achieved three of them out of four :-)
1.355, 1.3585 and 1.362. Now the target is 1.366 and then the next one is 1.372 and finaly for this session it may be very much 1.375.
The rest of the details can be found in the previous studies.
There is a risk that we do hit back at around 1.355 and all the question would be if 1.355 will hold or not. Baring in mind the problem of the Portuguese bank, there is a risk and fear in the market concerning EURO. In addition to that, keep in mind that FOMC minutes confirmed that QE3 will really end in October i.e no more money printing from the FED although interest rate are still low and there is a lot of cheap money, the market may anticipate a mechanical move i.e less printed USD so USD will increase its value vs EUR and JPY. So we have to observe carefully 1.355