Short EURUSD - Bad Spain Data will Erase Support for EUR

This is related to my EUR assessment earlier. Given the data was worse than expected, I think the EURUSD's rebound is over and I do expect people to be more confident adding to their Short now. The pair should go lower until the next risk event - Powell's speech.

Comment:

The trade is moving against me aggressively and my motto is if I have to cut loss, cut it fast.

I'm out 1/2 but still if the price action smooth out I'll re-enter.

Comment:

I'm in 1/2 again at a slightly more favourable price. Now it's all about waiting and managing the trade.

Comment:

Got whooped on this one! I totally underestimated the USD weakness ahead of the FOMC member's talk later. Should have done more homework to understand Mr Powell's stance and see how much his speech may/may not affect the market.