The EUR spiked to as high as $1.1881 last week before trimming some of its gains to a low of $1.1733 yesterday on news that market is now pricing the chance of a December rate hike by the Fed at 92%.

On the 30 mins chart, the price action on the EUR/USD is suggesting a short term bullish setup with a possible rise to $1.1945 followed by $1.2077. On the flip side, a dip below $1.1733 might see immediate support at $1.1713. However, a move below $1.1667 would invalidate our bullish count!

 

Mario Draghi is expected to deliver a speech at 08:10 GMT today... this could be the triggerJ!!