Euro Trends Lower

The EUR/USD currency pair has been somewhat lackluster yesterday due to the US holiday. The pair drifted lower throughout the New York and Asian session. Minutes of the last Fed meeting are due at 18:00 GMT and traders will look closely at the discussion that resulted in the Fed’s recent rate cut. Many feel that last week’s employment numbers changed the landscape enough to push back additional rate cut for now. As this will bolster the US dollar we look to short the Euro today. Our indicators are in negative territory and we will look for support around 1.3935.