Todays trade: EURUSD

Todays rate decision by the ECB can potentially create big moves in EURUSD. Consensus is an increase of 0.75 % raising the rates to 2 %.

We will trade on any diversions from the 0.75 % hike and of course listen to C. Lagarde, which which comment on the policy shortly thereafter and perhaps trade on that as well.

If we trade on a diversion in the rate decision vs. expectations we will probably close that position before C. Lagarde goes live.

It seems en general opinion is that EURUSD shorts will have a higher upside the coming days and weeks. Thus a more dovish presentation by C. Lagarde today will have a larger impact on volatility than a hawkish one will.

Safe trading out there.