FX.co ★ Trading plan 08/18/2017

Overall picture: ECB and market reaction.

The main events are focused on the US market, which showed a sharp decline to -1.2-1.5% on the indices.

Currency market: The ECB stimulate the rate of EURUSD.

The publication of the ECB's protocols revealed that the central bank is seriously concerned about the growth of the euro.

In consideration of the market reaction, the euro fell sharply and broke through the 1.1680 level and reached 1.1660.

Plan for EURUSD:

We prepare the purchase with a breakout to the top of 1.1790, but with a break below 1.1660 as we sell.

The main event is scheduled next week, which is the meeting of the leaders of Central Bank in Jackson-Hole, it is expected for coordinated plans to remove excess liquidity from the markets.