USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
EUR/USD: how to trade the ECB meeting
SELL 1.1265; TP 1.1190; SL 1.1285
SELL 1.1218; TP1 1.1190; TP2 1.1130; SL 1.1230
Trading the news is, of course, risky but sometimes the risk is worth taking. Today we think about selling the euro on the ECB meeting and press conference. The trade is in line with the longer-term downtrend of EUR/USD.
EUR/USD found support at 1.1220. It may move to 1.1250/65 initially, but the odds are that the words of the ECB president Mario Draghi will send it towards 1.1190 (moving averages on H4) and probably even 1.1120.
The European Central Bank will announce its decision at 14:45 MT time. Mario Draghi’s press conference will start at 15:30 MT time.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
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