ECB Interest Rate is done in 2 parts, first with the rate decision at 7:45 am then followed by a press conference at 8:30 am.
The market is not expecting any changes today but we did see selling pressure on the Euro since the last meeting and we are almost back to the same levels, which shows the resilience of the Euro.
Here´s the forecast:
7:45am (NY Time) EU ECB Interest Rate Decision Forecast 0.00% Previous 0.00%
The Trade Plan
However, in the unlikely event that ECB surprises the market by cutting rates again, then expect the market to go into a selling frenzy and we should jump in immediately on a spike trade because no matter what the slippage or spread is, we will end up making positive pips. Of course, if ECB decides to keep rates unchanged to as expected at 0.00%, then we should see relatively no change in the market as this lack of movement is expected… Please follow the recommendations above ONLY if ECB surprises the market.
For more information on my trading methods, please read: http://www.currencynewstrading.com/how-to-get-started-with-news-trading/
Here´s the link to watch the Webcast Live at 8:30 am EST – Highly recommended to follow along live! ECB WEBCAST OFFICIAL PORTAL
I’d recommend using the Recommended Pairs from above as they are based on my CSM, which should provide the best combination of currency pairs to trade based on better/worse news… of course, you can also trade the default pair: EURUSD.
EU ECB Interest Rate | December 14, 2017 | Forex News Trading
December 10, 2017 by Leave a Comment