EURUSD trading idea for the week of 06-Nov-2017

Technical and Fundamental factors

EURUSD has been falling after the head & shoulder pattern formed two weeks ago. Last week, even a disappointing NFP report from USA did not help this pair rally, but rather it looks set to fall much further, to fulfill the anticipated move of the head & shoulder. A dovish Draghi also helps this move.

EURUSD Weekly

Trading preference

The idea is to sell the pair when it breaks below the close of the last week’s candle. The target could be around 1.30 level. But a bounce up from there could again send the pair higher later.

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