OK The EUR has been bluish for 3 days and that to me means a big fall is in the offing later on today – I have an entry order below support @ 1.30997 for a short…. however I expect it to bounce around like a yoyo during Draghi’s speech.
When there is news, normally the currency goes THE OPPOSITE WAY to the way it is actually going to go fuelled by the news.
For example, if the EUR is going to drop, expect it to rally just before the news. Luckily I don’t have to worry anyway if it goes up and doesn’t stop as my entry order is safe below the support.
I don’t expect any surprises from the Bank of England today.
http://www.strobot.co.uk < get yourself a strobot.