Look for a nice low risk spot on the intra-day chart to short and then scalp/trade around that position, building on the core position once the momentum is on my side.
If you look at the 4hr chart, It looks to be forming a nice . If the flag completes I'm looking to take the trade when other technical factors align in my favor.
Macro Analysis as given by Mercenary Trader-->
"Wednesday’s reaction spike in the dollar, particularly versus the euro , looks to have been mostly panicked short covering (and “five-minute-macro” types getting hosed). The move has been reversed in 24 hours as of this writing… and the reasons why are not at hard to understand. The idea that the euro should strengthen against the greenback here is completely laughable. The situation in Europe, for any trader who bothers to check, is still going to hell in a handbasket: At last word Greek yields were again spiking, new talk of Grexit in the air, as testy relations between Greece and Germany start to unravel. And the sixteen-week-reprieve is not even up yet! Many a US multinational corporate treasurer, meanwhile, is desperate to close out his euro-denominated cash balance (due to mounting forex losses that are reported in dollars): The bulk of euro selling is not driven by traders here."
If it goes 1.09190 area I'm looking to sell it back down to1.07250 area depending on the price action .
Patience is key to this game
I too am looking to go short, but I think the setup will happen between 1.12 and 1.13 - then a ride down to parity: