EURUSD seems to have taken its seat in readiness for the ECB press conference
'Dovish or not' seems to be what the market is waiting for right now. The euro's been down today and it looks like the sellers want to keep the pressure on. They'll be hoping that Draghi bigs up extending or increasing QE but I think they might be disappointed
I was looking for a long trade in the run up to the meeting on Monday but we didn't get close to any of my levels. I'm less inclined to jump in now as the risk is much higher and I wanted to see if I could build a bit of a buffer ahead of the presser
The trade now is after, or catching a comment quickly.
The levels I highlighted Monday are still good for watching if the market slides down that far. At the moment we're finding support along the 100 H4ma and Aug support line.
EURUSD H4 chart
Those levels won't count for anything on any big comments
The daily chart is where I'm looking at the decent levels in a dip
EURUSD daily chart
The 1.1200/15 is one level down to 1.1130. On the topside 1.1450 is a level worth keeping an eye even though we broke it last week
