EUR/USD, what a day!
What an amaizing day for the euro. ECB cuts all interest rates, increases QE to 80 billion and announces 4 new TLRTO’s. At first, the euro sank for 100 pips down to the support at 1.0820, we have followed the move here in my blog LIVE with comments, on what could happen next during the press conference. I was pointed at this levels in my EUR/USD analysis from March 8. and you can see that the second support at 1.0820 was realy the strong one, the place where the buyers have took over the pair. During the ECB’s press conference, the buyers was ensure that this decision is good for the euro and they have boost the pair stongly up for 200 pips at first to 1.1120. The pair retreet back, but the buyers reload at 1.1020 after wich they pushed the pair again even higher to 1.1217, which is 400 pips away from the first ‘rate cut move’. These are the same levels as in my previous analysis, observe them and make you’re dicisions calm. This was probably a very heavy day for you if you were in the position here, I was not. Take care, I am done with my trading for this week, tomorow will just watch and make plans for the next week.