We see that market is lacking of data to trade, hungry of data could make ECB Meeting tomorrow becomes more important.
In my opinion,100% ECB will not cut rate anymore because rate is now below 0%, they could, but I haven't ever seen any did in the history.
However, more dovish tone is likely, EZ economic data recently is very negative, ECB should do something, but they don't any tool to act now:
- They did cut rate
- They used
I think probadly they could extend , but this time is unreasonable.
A safe solution is wait, so the meeting becomes a non-event.
- EURUSD has a resistance at 1.14000
Stop at Kumo cloud.
A big I draw on the chart, any break will come with a strong trend.
A support at 1.1200
HERE IS MY STRATEGY: I ONLY BUY WHEN EURUSD BREAKS THE RESISTANCE 1.14000
AND I SELL WHEN EURUSD BREAKS 1.1200
WAIT AFTER MEETING IS THE SOLUTION I CHOOSE