The FOMC has come and gone and for the most part, it didn’t shake up the Euro all that much. Overall I would say that we are still clearly bearish in the EUR/USD and looking for opportunities to sell.
Yesterday Skerdian identified a profitable sell signal in the EUR/USD and I’m happy to say that this has been a very profitable time for Euro traders as the trend has been a good one.
With that in mind, I will be looking to keep the same strategy in today’s session. The 1.1650 level has been important and is providing solid resistance. I’m going to be using this level to scalp off and I’ll maintain a bearish bias in that region. Should we pull back above 1.1700 then I think we will need to access the trend. I’ll be looking for us to take out the most recent lows around 1.1600 in the near future.
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