In an hour, ECB is going to make a statement on the interest rate and also economic slowdown. The market is expecting the dovish statement and EURUSD dropped. Right now it is around the support zone area of 1.1122
I personally plan to enter with very good risk/reward ration of 6.60 because it is a high-risk trade. Market makers already shorted euro and if ECB makes a decent statement on economic euro can spike quickly. Remember that huge market manipulation can also happen, so I am only risking what I am willing to lose.
I personally plan to enter with very good risk/reward ration of 6.60 because it is a high-risk trade. Market makers already shorted euro and if ECB makes a decent statement on economic euro can spike quickly. Remember that huge market manipulation can also happen, so I am only risking what I am willing to lose.