EUR/USD gearing for its next move as the ECB leaves interest rates unchanged
The European Central Bank has just announced that it is leaving interest rates unchanged and traders are looking forward to the press conference by the President Mario Draghi who will unveil the next course of rates going forward and clarify the stance of the bank towards any further bond buying.
The Euro currency has been consolidating its losses throughout the Asian and European trading session so far. The European Central Bank has left rates unchanged and Mario Draghi will take the helm and push the EUR/USD pair into its next direction in about 20 minutes.
Before such a risky event we advise binary options traders to look carefully at the opportunities presented for them and pick the direction where the market goes to. It all depends on what Mr Draghi says now so don't fight the ECB, just let the words of its president guide the market and follow it.
We at Binary Options Post hold no illusions that most of you have listened an ECB press conference before, this is why we will advise you to use the price to guide your decisions. A strong break above 1.2340 would mean that there will be no immediate quantitative easing on the cards and buying daily calls is recommended.
On the other hand if we see a decisive break below 1.2290 this means that the central bank has once again surprised the markets and we are will witness another leg of Euro selling which will lead the EUR/USD pair towards 1.2200 and possible even lower.
In both cases, try not to risk too much, because this will be a very violent trading environment and anything is possible after all. The expiration rates for the options should be daily, which means sometime after 20:00 GMT (included).