While 2y outlook points to north, still room to slide

FX markets are usually 1.5-2 years ahead of economic cycle, so in order to figure out the direction, ask your self what will mean higher interest rates for financing the current huge deficit and the planned expansive policies in 1-2 years, to the economy in general... of course we have here Europe and the global economy so dont forget to look at the big picture too.

Technically the chart still looks pretty bearish on EURUSD, but the bears need to get more reinforcement... the right soulders however in the last 5-6 years more and shows this sideways hesitation before the major move.