EUR/JPY Asymmetric Triangle Ahead of ECB Meeting Minutes

Who's eager to trade the ECB Meeting minutes? If you are not positive about what to expect and how to trade ECB (European Central Bank)....


Who’s eager to trade the ECB Meeting minutes? If you are not positive about what to expect and how to trade ECB (European Central Bank) minutes, allow me to help you.

How to Trade ECB Monetary Policy Meeting

Back in January, the ECB not only left its policy unchanged but also avoided saying anything in their next action in the QE (quantitative easing) program. Honestly, inventors won’t be expecting anything fresh in their meeting minutes which is why we need to catch a few PIPs in the EUR/JPY.

EUR/JPY - 4  Hour Chart - Triangle Breakout
EUR/JPY – 4  Hour Chart – Triangle Breakout

Keeping the fundamentals in mind, we can proceed with a trade with the EUR/JPY. Looking at the 4-hour chart, the pair is poking out of the asymmetric triangle pattern which was supporting it at 132.100 and working as a resistance.

EUR/JPY – Trading Idea

If the ECB meeting minutes fail to support the Euro, I will be looking for a sell position below 132.450 with a stop above 132.650 and profit at 131.750.

Good luck!

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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