LukasFoisy
Short

Wait for ECB, but this could be a short!

FX:EURUSD   Euro Fx/U.S. Dollar
70 0 0
I won't be taking any trade on EUR before ECB but the announcement that will be made and the subsequent reaction will be interesting for this chart. After what seems to me like a major top (March 18th-ish) confirmed by RSI (14) divergence, EUR/USD             is rallying up again.

I comes at previous price structure that was major.

Thus, if the ECB conference and decision is overall bearish , I'll be looking to short this. If the ECB brings bullish news for the euro             , than we will wait to see the market's reaction. If the bulls don't take decisive control, I'll short the hell out of this pair especially with NFP coming out Friday - where I expect the number to be good.

If, finally, ECBs conference and decision are bullish and the market reacts positively to it, I won't get into this trade, of course.

But the key message is: EUR/USD             could go down but do not take action before ECB!

Enjoy.
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