Howdy!!I expect the market to remain calm leading up to ECB's interest rate announcement, scheduled to be released at 7.45 pm. One thing we should take into account, that there will be no press conference as usual, only a press release will be issued following the rate announcement. This release is likely to contain a neutral, pre-arranged statement which will leave traders scrambling what the ECB’s next move will be. All in all, it is going to be fun, fun, fun,..witnessing the price going up and down..!!
Good luck guys!
Today's Pivot Points:
R2 = 1.3744
R1 = 1.3709
PP = 1.3672
S1 = 1.3637
S2 = 1.3600
Today's Calendar:
1- ECB Interest Rate Announcement 7.45 pm
2- ECB President Trichet Speaks 8.30 pm
Today's Strategy:
1- Buy euro on dips, 1.3650-3630
2- Sell euro on peaks, 1.3690-1.3710
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