Anticipating a pull back to the weekly S1 at 1.19.
No significant news on the Euro side of things this week.
USD News: PPI, CPI and Retail Sales Wed, Thurs and Friday- respectively. A good CPI print on Thursday could give more insight into what the FED wants to do with ir and bal. sheet going into 2018.
Technically this is an R1 to S1 pullback. Further upside could still be expected if FOMC statement rhetoric is mildly dovish. If talks of unloading of balance sheet or possible rate hike in Dec or any hawkish tone than a roll reversal for the pair could be in play and bearish price action set ups in play until end of the fourth quarter. All longer term trades are risky now, but opportunities exist if one watches closely. Personally I am short at 120.25 looking for 125 pips.

EURU

One thought on “EURUSD pullback”

  1. Peter Lammi says:

    Very nice shorter-term role reversal entry, Peter. As I am writing this you look to be up over 60 pips. Great eye on the longer-term risk. I agree that shorter-term opportunities can be taken advantage of in this type of scenario. This would be a good one to share in our Webinar tomorrow if there is an opportunity to.

    Regards,

    One of the other Peters, here.

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