Euro/USD Is Approaching 1.40

Note the quick and steep rally the EUR has staged against the USD over the past three weeks.  1.385 could have served as resistance but the EUR kept rising and is now at 1.40, which should serve as some sort of resistance.  Next stop higher would be 1.428, which is the highs from last November.

My gut feeling is that the EUR is overdoing it to the upside and will falter again soon.  I first need to see a significant distribution day before doing anything here, but should stock prices ever fall more than a couple of percentage points I think the greenback could get back on its feet.

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