ThaboFX
Short

EURUSD Short Position (4Hr Timeframe)

FX_IDC:EURUSD   Euro / U.S. Dollar
- following positive PMI data, this will bring the EUR back to area of resistance, however I believe the pair will retest this level leading to a bearish move towards the monthly support of 1.1450
- I believe the ECB will remain dovish in the upcoming meeting in regards to the QE programme as this is necessary to secure the gradual convergence of inflation towards the inflation target
- In terms of technicals, there is a clear head and Shoulders pattern followed by a retracement supporting the potential bearish move
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