Open trading account 
As mentioned in my previous blogs, I was itching to go long as I consider the QE decision to be priced in. Today I got an opportunity to do so as the Euro was breaking higher to 1.1600. I have now closed all my Euro shorts and switched to long. The Wall Street Journal reports that the President of France told business leaders that the ECB will start QE this Thursday. The Bank declined to comment.
When even Presidents think this is a done deal and are freely discussing its impact, you can bet QE is coming on Thursday. So I consider this event to be fully priced in. The question now remains what amount of government bonds will the ECB commit to buying? If my trades go in my favor I will tighten my SL ahead of the meeting on Thursday but for now I'm staying long.
When even Presidents think this is a done deal and are freely discussing its impact, you can bet QE is coming on Thursday. So I consider this event to be fully priced in. The question now remains what amount of government bonds will the ECB commit to buying? If my trades go in my favor I will tighten my SL ahead of the meeting on Thursday but for now I'm staying long.
