Fundamental news explained.
Early this European midday for me at 13:45 hours, also early in the US session, the President of the ECB, Mr. Draghi came out with news about the Euro program. The Minimum Bid Rate stayed the same at 0.05%. Also the ECB’s governing council decided to expand its bond-buying purchase scheme at least until the end of March 2017. But the council lowered the deposit facility rate to -0.3% from -0.20%. This was disappointing because the market was expecting and seemingly priced in, expectations for a deeper rate cut to -0.4%.
Trade explained, 3 Strikes and Out.
Before news there was a quick spike where early buyers stepped in. After that a higher low was formed. The market moved pretty fast after that. I explained it all in my webinar, where I discussed my entries and exits. Also I showed on what technical levels I based my trades upon. I will place the link below so you can go watch my webinar recording. I used Tick charts together with Time charts. This combined with Pivot points and Fibonacci levels gave me great clear sight of the opportunities that arise before me. I traded 2 pull-backs of price and 1 break-out of price, totaling 3 trades of more then 200 Pips in profit! That in under 1 hour of trading is absolutely amazing.
Good articles in addition.
- My webinar where I discuss live charts on this ECB event with the EUR/USD
- Will update link when Upload is ready.
- Euro rallies as ECB measures fall short of expectations
Questions about Trading and your Mindset?
Do you have questions about my trading? Come join my free webinars I give weekly. They are announced on my TradeReact facebook page so don’t forget to follow my updates there.
Good trading. Always manage your risk exposure, by limiting your trading size and leverage, according to your account size.
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Wilco van Boxtel is Chief Currency Trader & Mentor at TradeReact. He has over 17+ years trading experience since 1998. Besides currencies he knows many other markets and assets. Now he is here to educate and inspire you to be successfull in trading too. Subscribe and follow his lead.