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#SaxoStrats - Selling EURUSD ahead of key event risks

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In this #SaxoStrat, John Hardy explains why his move to sell eurodollar has already had traction this Wednesday as a descending channel moves in. 

He says the trade is in response to forthcoming event risks heading into December. The possible policy divergence between the US Federal Reserve and the European Central Bank are key, he says, with the Fed's Janet Yellen speaking next Wednesday and the ECB meeting on Thursday. There's also the US job's report out on Friday.

John explains his position and why there is room to move towards the 1.05 area in EURUSD.