It is a big week for the EUR as we, of course, have the ECB interest rate decision coming out on Thursday. Whenever that happens, we can sometimes have a quiet week. However, at the moment we are very much being pushed around by the USD.

The USD really rallied on Friday and that was thanks to US President Trump and his Tax Reform getting a huge boost. As that appears more likely now, we have a bullish USD on our hands.

Trading Plan

The plan is to short the EUR/USD at any opportunity. On Monday the level that I’m targeted is 1.1815, which will be around the 50-SMA on the 4-hr chart. If we can get a bearish candle in that region then that would be a nice entry point for a move into support below.

EUR/USD – 240 min Chart.