The tax reform potentially will be the major theme for the dollar today. Even if price goes all the way to Friday's high, I will see that as technical correction before investors buying the dollar again. A break beyond that will invalidate my trading plans. The rationale for "bearish" the Euro today is the lack of fresh news/catalyst for the Euro currency.
Risk for this trading plan :
1. A development on the Flynn vs Trump saga (eventhough it has been established that is is indeed "fake news")
2. A development on anything that negates the positivity of the recently passed Tax Reform
3. Trumps crazy tweets!
4. Anything significant from the Eurogroup Meetings
Risk for this trading plan :
1. A development on the Flynn vs Trump saga (eventhough it has been established that is is indeed "fake news")
2. A development on anything that negates the positivity of the recently passed Tax Reform
3. Trumps crazy tweets!
4. Anything significant from the Eurogroup Meetings
Comment:
Price is trading below 1.8500. Plan A can only be triggered if enough pullback after this. I will not chase the price.