Enough of the past, let's talk tonight. Any surprises from the ECB either in rate or in guidance will push the dollar one way or another. My best guess, if they change their guidance or alter the expected rate hike at all, the Eur/Usd will move 100 pips in the middle of the night, followed by another day or two of continued movement. I have place entry orders to add to my position if the Eur/Usd climbs by more than about 60 pips and I have my stop placed to stop me on a drop of about 40 pips and a short sell down about 60 pips again. So I don't care which way it goes, I plan on making money either way. This could be another pivotal day for the dollar and define a pull back closer to 1.20 in the next month or a push to nearly 1.30.
Good luck and happy trading.
Blake Young
Random Acts of Forex
