In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we discuss the euro pushing higher pre-ECB.
Currently, we are seeing positive sentiment around the euro as we go into Thursday’s ECB rate decision and press conference. It is this positive momentum which we are still looking to capitalise upon. The first trade is a EURUSD buy trade above yesterday’s high of 1.1409. Please note we do have a monthly high at 1.1423 so it is safer to wait for prices to break above the monthly high.
The other market is a buy trade in the EURJPY. However, this is a cleaner set up so we can look for a buy trade when prices break above yesterday’s high of 122.31. If we get into either one of these trades, we will be looking to either mitigate risk on these trades, book in profits or get out of these trades completely going into Thursday’s ECB news event.
Euro Pushing Higher Pre-ECB – Full Video Analysis
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