FX:EURUSD Euro Fx/U.S. Dollar
Here are my predictions:
I am mixed the EUR on fundamental data for Tuesday, but technically, I am short. for now; as there is no new information to suggest otherwise.
Consumer confidence is coming out for the US and it doesn't look good. It is a high impact event, but recently it has not been impacting the market. So, my confidence level is not a 1. Maybe the market this time will look for ANY reason to buy the dollar, overshadowing the way a "consumer feels." The market is looking for yield.. The real deal comes in near the end of the week.
This is NFP week. The market can ignore it all and whipsaw everybody on small time frames.
Technically, on the larger time frames: 4 hour and daily, shorting the EURUSD has been what I have been doing. I am a buyer of the USDJPY ...looking for a retracement to enter in again.
However, if the data no longer support my thesis...I will cancel all long USD orders and take some profits.
Trade closed manually: take profit in EURUSD