At yesterdays' meeting, the Governing Council of the European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. Nevertheless, the comments from the Central Bank turned out to be very...
Double Top form up with RSI Divergence, great shorting opportunity as Double Top as it is a counter-trend entry technique, it gives one of the best Reward:Risk if traded effectively.
Do note in about 2-hours later, ECB President Mario Draghi is going to have a speech if it doesn't affect your trading decision, do go ahead.
Entry, stops and targets send to my...
Hello Guys,
Matter of fact, the Euro depreciation just begun. If you didn't catch that surge down , don't panic. Next week will offer better entries as more and more people jump, the EUR will jerk up a little bit before continuing with the plunge.
Two technical considerations advised my entry:
1. Notice that bear divergence pattern over the last 20 trading days...
Mario Draghi and ECB rate announcement in the course of the day under focus. Chances of tapering postponement is likely. Disappointed, bears should be in charge.
Trade should turn out as follows if conditions are met:
Sell Stop: 1.1955
Stop Loss above 1.1975
Take Profit: 1.1915
IMO Draghi was dovish on the margin as expected - once again reiterating the ECB commitment to targets with " If Warranted, Will Act By Using All Available Instruments". Further, he was very pessimistic on many fronts, especially the ECBs key target inflation saying "Inflation Rates Likely to Remain Very Low In Next Few Months" and " Risks to Growth Outlook Remain...
