The big picture: The market is determined by the direction.
Until the end of January, the market should determine the direction to the beginning of the year.
There are too many uncertainties as government " Shutdown" in the USA continues which is strongly negative.
The situation with Brexit has become even more confusing, after two ballots in the British Parliament. In the first ballot signed by Prime Minister May, the parliament rejected the agreement with the EU but the second vote confirmed the confidence of Prime Minister May. There are a variety of options varies from the exit of Britain from the EU without an agreement to a new referendum on Brexit.
The next important event for the euro is the ECB meeting on January 24th. It is possible that the market will hold in the range until this point.
We buy euros at the breakthrough of 1.1490.
We are ready to sell the euro from 1.1300 down.
