FXStreet — medium and long term, is likely to appreciate the currency pair, said Alia Mihr, market analyst at Danske Bank.
The altitude flight of the Euro took place yesterday for a quick end. The currency tested a couple of the area around 1,11. Neither news, nor economic data were for this motion impulse is responsible, but the extremely overbought market conditions to be more profit-taking triggered.
In the medium and long term, we remain, compared to the EUR/USD and the GBP/JPY bullish. The reasons for this fundamental nature, such as valuation and current account surplus. We would open up new long positions, if in the coming months, a entry at a lower level.
** FXStreet News Editorial, FXStreet**