Tonight we’ll see some volatility in the Euro, with the ECB Minimum Bid Rate Data Release.

The market is expecting no change, but the reality of ‘No Change’ may cause a temporary relief rally in the Euro. I would increase the Pointsaway to 120 for this trade and leave STWAN as 5. I would also go with OCO=false, just in case there is a spike in the wrong direction. In this case, you will have a losing trade but should end up with a winner too!

If your trade goes Live I would take profits fairly quickly.

Focus will then turn to the ECB News Conference 45 minutes later.

ECB’s Draghi is running out of bonds to buy for QE, so the conference is likely to be eventful. He needs to come with up some effective changes to the QE program or lay clear groundwork to make them in the future, and that should weigh on the euro.

I certainly wouldn’t trade this with AmazingEA as the markets react as he is going through his statement which can take upto 30 minutes. Sometimes nothing much happens price-wise until the questions from the press at the end.