[B]My picks:[/B] Flat EUR/USD Ahead of the ECB Meeting
[B]Expertise:[/B] Global Macro
[B]Average Time Frame of Trades:[/B] 1 week
Quantitative easing and a record high budget deficit continue to weight negatively on the US dollar. For instance, currently the EURUSD gains more than 103 pips ahead of the ECB meeting. Yet, I continue to” think is not wise to sell the dollar around these levels since it looks oversold. Moreover, chasing trends is never the best decision since high exchange rate volatility makes it very difficult to find a place for your protective stop-loss orders. In sum, stay flat EURUSD ahead of the ECB rate decision, protect your equity and wait for better opportunities.