EURUSD Throwbacks are selling opportunites

Fundamentals:

Unpromising and disappointing EU data.
ECB Policy Meeting: The heightened risks to the growth outlook are not expected to derail its plans to end QE by year-end, but the bank could downgrade the growth risk assessment in its policy statement.That would be a dovish signal.
The gap between short-dated bond yields in the United States and Germany are at their widest in 30 years.
Tensions between Brussel and Italy and Italy budgetary concerns. Italian bond yields keep hitting to fresh multi-year highs.Moody’s and S&P Global are likely to cut Italy’s credit rating next week
U.S Home Sales data would be in focus.
FED seems not much concerned about what Trump said. FED minutes, clear as the water, indicate that they will keep the rates going up. They even discussed the need of pushing the benchmark rate above what they would consider a neutral level

Technically:

Friday we have published a bullish cypher pattern indicating a minor correction. We have reached our targets. - Pls see attached setup -

As seen on the H4 chart, the pair tested the 1.15300 resistance and ended the week below EMA 100.The bearish pressure will remain as long as the price hold below 1.16500. We need to see H4 closing above 1.16500 to talk about a shorter term trend reversal.- Stronger fundamentals are needed –

If the price breaks above 1.15300, 1.5700 and 1.16200 can be tested. We plan to use throwbacks as selling opportunities. Our midterm targets are 1.4300 and 1.3600.

Intraday trade opportunities will be published for the members.