ECB Meeting Results were Easy Money

Oct 22, 2015

Note how the chart was consolidating in anticipation of this news. Draghi's speech not only indicates hesitation at raising interest rates, but his utter lack of faith in the European economy. Couple that with pressure for more quantitative easing and this trade was a no-brainer. Also note how the price dips down straight to the Fibonacci level which was set using anchor points from the highs and lows of 2015.