The euro has drifted a little bit lower, and as we head towards the Jackson Hole speeches, especially Kevin Warsh’s speech on Friday, it looks as if traders aren’t comfortable shorting the dollar. Because of this, I’ll be looking to short this market.
I am looking at the 1.1650 level as resistance, though. I’m going to try to target the 1.16 level as short-term trade, and on Friday, I will probably leave this pair alone because it could be very lively due to those speeches coming out of Jackson Hole. But right now, I’m willing to play pullbacks going forward.
