EURUSD LONG

I have maintained a buy position for quite a while, based on last week's performance, the bullish momentum is slowing down. Going forward the bulls will depend on a new catalyst. The fed officials have maintained a divergent rate cut rhetoric while at the same the US government is experiencing a shutdown. These has made traders to remain cautious. This week we have quite a number of events lined up, including FOMC and NFP. Any negative news towards the dollar while at the same time ECB's Christine Largade maintaining a stability will mean a retest for the pair towards the years high around 1.19200. Better news for the dollar will mean on lower time frames reversal and higher time frames deeper retracements.