EUR/USD -63

with several weeks of continued gains in euro, it is not strange to consider it "overbought".USD index (DXY) is in the same position, since euro is largest part of DXY, 57% of it. Since Q.E.is expected, and according to some it is already priced in for a while now. Since FOMC minutes did shock anybody, it is to be expected that some form of consolidation takes place, and EUR/USD to pull back. Profit taking is likely, and next step is to figure out how much Q.E. is FED thinking about. That should be the topic of the media until November, together with the elections. Divergence on rsi is technical indication of pullback in the rally of 14 cents=1.400 pips. Stop is placed at 1.4055, and target is 1.3755 and maybe 1.3650. We need to be mindful of the spikes, after all, this is a very big rally.