Im going to be shorting the Eur/Usd pair ahead of the ECB Press Conference. This is in anticipation of them spending money and bringing in QE with over 1trillion euros which should send the Euro declining. Im going to short below the orange dotted line at 1.15385. The target for this short will be the 1.14587 level which is the last support level. Anything more than that is a bonus. If this trade triggers whilst the Press Conference is taking place and they introduce QE with over 1 trillion spent then we should spike lower by 100-200 points minimum.
Im not having a stop loss on this trade as the market will spike during the Press Conference. However if the trade gets triggered before the conference or during and the figures are positive for the Euro then i will quickly be exiting the trade.
Im not having a stop loss on this trade as the market will spike during the Press Conference. However if the trade gets triggered before the conference or during and the figures are positive for the Euro then i will quickly be exiting the trade.