No I’m not mad, just hypothesising on what may happen on Thursday…
EURUSD finds itself in the monthly sell zone between the MCPP and MM3, with the Weekly Central Pivot Point and major Daily structure as upside resistance.
USD PMI due out on Wednesday 6th September has the ability to move this pair, and I will be watching closely for a direction. In a perfect world we would see poor data out of the US on Wednesday together with a decent upside revision to EZ growth forecasts, together with a clearer stance on ECB asset purchase program on Thursday.
This could send EURUSD up through towards 1.21500 and beyond.
A strong PMI print ahead of a downwards revision of EZ inflation would see me want to sell this pair from the MCPP.