Jeddah Summit, Euro PMI, German IFO; Betting on the limits

Some OPEC members showed willingness for limiting oil price, at least in their words, which could work in the short term, and selling oil is usually dollar positive. This Monday might is not a promising day for Euro when Purchasing Manager Index for France, Germany, and Euro-zone, in addition to German IFO Business Climate all are expected to show weakness in euro area. Anybody who wants to buy Euro may find it at a cheaper price in the next 10 hours.

So, I decided to sell EURUSD at 1.5634, when technical data looks relatively supportive.