Well, sort of
Credit Agricole question whether selling the euro at current levels is a wise move
They say that the ECB is unlikely to exceed expectations, which by and large expect an extension of QE and a deposit rate cut of more than 10bps
If the ECB deliver a bigger than expected cut the market would take that as a signal that the ECB have hit the lower bound and a sell the fact reaction may trigger position squaring related EUR upside later next week
They also see some scope for USD to fall after a Fed hike as the Fed will want to lessen any further USD appreciation
"All of the above suggests that the USD is facing rising downside correction risk in the weeks to come. As such we advise against selling pair such as EUR/USD around the current levels. If anything we believe that better levels closer to 1.08-1.10 can be reached before new shorts should be considered. "
Wise words I think and they still plump for EURUSD shorts but at higher levels
I also think they're spot on with the call about the after reactions to both bank meetings
eFX news brings us the story. Check them out for a free trial