Webinar: Using Price Action to Find Setups Ahead of ECB
- The next eight days bring three major Central Bank announcements, starting with the European Central Bank on Thursday. Hopes are high for an increase to QE, but will the ECB deliver? We looked at setups in EUR/USD and the DAX (GER30).
- Next week brings both the Bank of Japan and the Federal Reserve. We’ve seen rampant volatility in the Yen since the last Bank of Japan meeting when the bank made a stealth move to negative rates. But the Yen weakness they were looking to inspire turned around within a couple of days and became rampant strength. What might they have in store for us this time? We looked at setups in Nikkei (JPN225), EUR/JPY and GBP/JPY with the goal of trading volatility in anticipation of those releases. We published a setup on GBP/JPY yesterday here.
- We took a long look at stock indices in the US, Europe and Japan. The German DAX and the Nikkei are showing initial signs of weakness while the S&P 500 remains well supported. We looked at how we could use price action to peg-in a short-side approach should the situation present itself over the next week. A more full explanation behind the S&P 500 setup can be found here.
--- Written by James Stanley, Analyst for DailyFX.com
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