Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
EUR/USD: how to trade the ECB meeting
2019-11-11 • Updated
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.
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