I am receiving in my mailbox that most brokers are now implementing preemptive measures and adjusting leverages, margin to avoid the mistake that a few brokers did during the Swiss Showdown. Hearing that today volatility will spike as ECB will announce whether to continue QE or not. What are my expectation of what he is going to say is simply I Don’t know. But what I know, ECB normally say at the right time, which means either we are near or at a supply level or a demand. IT is a case what you see in all time frame. This time I notice the nearest supply on a 2h chart at 1.1691 with a SL at 1.1745 and Profit target of 1.1583. Again this is just a 1: 2 RR risking 54 pip for a 108 pip. The trade might got filled or not , depending how the volatility and spread be during the news. But I will set it and check later after the news. Note to drag this further down towards demand, 1. Require very special news that shock many 2. Draghi knows where the nearest supply before giving his speech. I would not recommend novice trade trade during this times as it may destroy their account. This is where you lower the risk position to avoid unnecessary loss. I will update this blog later for its review. Current time of writing is Asian session . Why I pick this setup because it is in line with the demand on the Dollar index 2h chart as well.
Notice at 92.16. That is a demand! and Eurusd showing a supply . I am thinking it this way, that price will go up initially before the news and drop massively after the news or during the news.