Euro - to challenge 200 MA

Expect Euro to challenge the daily chart 200 MA. Also expect Euro to retrace from 200 MA from its first challenge as it is in overbought territory, and subsequently break through as the weekly chart indicates that it is more likely to complete its fib 100% and bollinger band. With the expectation that US is likely to continue printing USD, this gives market the reason to short USD and therefore provides Euro to move against USD.