In our Daily Trade Watch video, we look for high probability trade setups that we can trade throughout the day. Today, we analyse some explosive moves post ECB.
What an eventful day yesterday was in the financial markets. A lot of wildly swinging markets with little coherent direction. The ECB kept its main refinancing rate at 0% but did announce it was going to revive its bond-buying programme. Basically, printing more money and injecting it into certain parts of the European economy. The reason for this is because of lower growth and inflation expectations over the next couple of years.
As a result, the euro has weakened significantly and then strengthened significantly. However, these are very difficult market conditions to trade and most traders get blown out with price action like this. We are looking very closely at the euro to see if we get continuation. If we do then a good high probability trade would be EURGBP above 0.8972 and EURUSD above 1.1086.
Explosive Moves Post ECB – Full Video Analysis
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