EM16

EURUSD - Watch out for ECB Rate decisions & press conference !!!

OANDA:EURUSD   Euro / U.S. Dollar
Tomorrow we will have an important day for the EURO , with the Interest rate decision & the ECB press conférence more importantly. No rate change is expected. The focus will be on the press conference.

There are a few key questions Draghi will have to answer.
1) Will the ECB change its risk assessment around the economic situation?
2) Can the rhetoric about maintaining interest rates until the summer change?
3 )When does the ECB expect inflation to rise again?
4) Has the ECB prepared for a Brexit without an agreement?

A weak economy means the ECB will have to wait before an increase of interest rates.
That suggests the EURUSD could go lower.

This scenario would confirm my anticipated bearish moves in EURUSD & EURCAD .
EURGBP might confirm the alternate count. In any case, these are just assumptions.

What we know is that tomorrow will be calm for the EURO until the event, which will even set the tone for the coming week.

So, I recommend you stay on the sideline and not make any big entries until after the event.
!! Data shows, retail traders, lose a lot more money during volatility spikes like this & have a way better success rate when trading markets with lower volatility !!
Therefore, don't try to be a hero, keep yourself off the screen until after the event, go for a walk, a coffee or go buy yourself/wife/husband/kid or dog something nice, You will feel much better than if you take a loss.
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Comment: Price came down as expected, touched the 261.8% extension and recovered back up now.
Draghi's press conference was as expected, slowing economy (price down) but overall still looks good (price up).

Comment: Price made a last push lower and has now started its correction higher in a pretty impulsive fashion believehttps://www.
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