"Brewing in the pipeline" ECB Announces Triple Rate Cut - POST ECB - EURO declines & Pullsback wth a Rapid Whipsaw as Market Volatility Remains very High"
EURUSD PRICE ACTION
The rapid price action after the ECB announcement where the EURUSD declined to the support levels and managed to pullback above the day's range that we considered a hefty whipsaw that drove fresh short positions from the report that triggered a quick exit mostly by speculative positions. This is what we do not encourage traders to do. Prices would continue to move against speculative shorts that institutionals would carry this action until the closing of session. Cautious play should be observe.
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