Euro selling strategy! Will a new low be reached!? ~Euro selling strategy on October 31~

◎Strategy and Positions Held

Euro Sell Bias

Holding a Short position in EUR/USD.

Key point from here is,”1.1300" breach would add a new Short entry in EUR/USD。

Stop is set at1.1450.

EUR/USD Daily Chart

EUR/USD 4-Hour Chart

I don’t really believe it much myself,gap-filling trading.

The gap that opened during last year’s French presidential election has not closed yet.

Looking at the charts with that in mind, …

If we move into a downward trend from here and head toward a gap fill,it would form a textbook-like Head & Shoulders pattern.

Whether it can happen or not is uncertain, but I find myself hoping to watch a little longer.

EUR/USD Daily Chart

◎ Today’s Points of Focus

Yesterday’s release ofItaly GDP, weaker than expected！

Attention was on structural reforms, the budget plan, and Italy’s fiscal deficit. The weak result has caused the euro to drift lower.

Other European GDP releases, Germany and Spain’s HICP, among others, showed mixed results. Still, the reaction has been negative.

There are many euro-area events today as well. I will keep an eye on them.

◎ Euro-Related Events

16:45 EUR France HICP (Consumer Price Index)
17:00 EUR Spain GDP
18:00 EUR Novak-Theido/ECB Governor speech
18:00 EUR Hansen/Estonia Central Bank Governor speech
18:30 EURVisco/Italy Central Bank Governor speech
19:00 EURItaly HICP (Consumer Price Index)
19:00 EUR Euro Area Unemployment Rate & HICP (CPI)