Monday was a pretty quiet start to the week for Euro traders. For the most part, we didn’t move all that far, while the USD was actually quite weak. Overall I’m still bearish on the EUR/USD and will be looking for opportunities to sell.

Trading Plan

I’m targeting the area above 1.1650 as my sell zone. If we can spike into the 1.1666 area then I will be looking to short. If we pull into the range at 1.1700 then I suspect we might have run out of steam.

And as it stands support at 1.1593 is really holding things up. As we move closer to December and the looming rate hike in the US, I suspect we will take out that support level.

Keep an eye on the forex signals page as I expect there will be a live signal today if we can rally a bit early on.

EUR/USD – 240 min Chart.