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ECB Leaks QE Proposal Of 50B a Month Thru 2016 Jan. 22, 2015

ECB To Go Full Fed Retard Leaking Plan Of Buying Over 1Tr In Bonds Over Two Years.

Is there no news thats sacred anymore? As we always suspected with news releases, there was always an insider that could be bought willing to give away the data allowing their friends, cronies etc. to front run any release. However its a whole different story when the conspiracy theory becomes conspiracy fact as it has been proven over the last several years. To be honest I thought the central banks were the last ones that could manage to keep a data secret but yet again I have been proven wrong having seen that the Fed “accidentally” release its data two days early to supposedly 4 banks only to find out a couple days later it was more to the tune of 300+. Now the ECB steps up and does the same with its leak of their QE proposal of 50 Billion a month. It wouldnt surprise me if its an open ended plan like the Fed did but we will have to wait and see what the details are later on today. It would be hilarious if it actually turns out to be untrue but I highly doubt thats the case.

EUR/USD Still Holding Friday Range

With the leak of the ECBs plan happening yesterday and seeing the drop afterward I can only assume that would be all we get from a spike lower before they see the QE program as a good thing for Europe and the Euro get stronger. Yes it dont make much sense as they are diluting the currency but history has shown that the effect on the Euro with all the back door QE they have already done was actually positive for the Euro when it should have been negative. This may be the one time its different but I have my doubts.

I will be open on direction on this pair today but dont really expect much movement until after the leak has been confirmed. The best level for a long is down at the lows of 1.1544 but they have already widened the Asian range enough to consider its H/L for entries as well. It is more risky so I will be cautious with any entries at those levels. The best level to short is at the highs yesterday at 1.1679 having the hourly 200 as confluence but the 1.1640 is valid as well although higher risk.

EUR/USD 1hr chart 1-22-2015

GBP/USD Showing Potential False Push

Congrats to the members who caught the GBP/USD short yesterday. The level was a bit more risky to trade against a first push but valid with a wide Asian range like it had. The trapping was clear just before the London open but having the added risk at that time of day I waited and missed my entry at 1.5170.

Today direction has become less clear since they couldnt push above Tuesdays highs so I will be more open even though the probability is higher for a move up due to the ECB print fest along with what looks to be bottoming at yesterdays lows. The best level for a long is down at 1.5103 but the Asian lows are valid with a 26 pip range already this morning. It would be best to see some playing of the breakout traders to take an entry with no clear direction. I will be open for the short at 1.5178 but if they do push that far the probability of testing up to 1.5198 is high so prefer to be long looking to take profits

GBP/USD 1hr chart 1-22-2015

EUR/JPY Reverses On Third Intraday Push

I never like it when they run the intraday pushes and the EUR/JPY did get some help from the BOJ yesterday but at this point the cleaner way to look at it is they pulled a change up running intraday pushes for now. This adds probability that they will continue in the near future. With a clear push down I will have a small bias for the short on this pair today but since that dont agree with Euro strength due to the ECB I will be a bit more open for the long than normal. The best level for a short is up at 137.27 or the current Asian highs if they hold. Otherwise I will be open for the long at the Asian lows with any conviction above 137.02

EUR/JPY 1hr chart 1-22-2015

 

Forex News Today

The only significant release today is the ECB Press conference so they will likely be pricing in the leak to some extent and spike stops just before or at the start of the speech. Its most likely going to be a whip saw day so will be best to book profits and not be holding through the news.

Happy Trading

Chad

MY APOLOGIES FOR THE BROKEN VIDEO OF INSIDE JOB IN THE COMMENTARY. I DIDNT THINK I WAS COPY WRITE INFRINGING WITH AN ITALIAN VERSION ALREADY ON YOUTUBE. HOWEVER YOU CAN STILL WATCH IT AT THIS LINK. STILL A MUST SEE!

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