Looking for longs in the euro market ahead of the ECB meeting

Each week has a focal point for traders and this week it is the turn of the European Central Bank. Traders are waiting to find out whether the Pandemic Emergency Purchase Programme will be reduced in any way as a sign of further tapering of asset purchases also known as “Taper”. In the past, the Federal Reserve has reduced its assets much to the dislike of the markets which started with a market correction in the equities market, also known as the “Taper Tantrum.”By September 2019, the Fed had let so much of their reserve roll off the books that we had a real issue within the financial plumbing causing interest rates to spike. With all of the problems seen in the US markets, traders need to know what the ECB will do, so that they can adjust their own positions accordingly.

For more trading details, please check the hyperlinks with time stamp indicated from the video:

1:32 EUR/JPY

4:56 EUR/USD