ECB meeting (October 26, 2017): Draghi despite the ending of QE stated that the ECB will keep interest rates lower for longer surprising many investors. This change in sentiment accompanied with net long Euro exposure by non-commercials (hedge funds) at 5 year highs should lead to a tailwind to the bearish thesis. Additionally, the EUR/USD has completed a Head & Shoulders (bearish) pattern.
Already short EUR/USD, but looking to add to short position at decline (1.1670) with a tighter stop around 1.1760-1.1800