The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar , a doji , an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels. I wrote last Wednesday that the resistance level at 1.4123 was likely to be the day’s pivotal point. However, I was only looking to take a long bias if we had gotten two consecutive hourly closes above that level during the first few hours of today’s London session. This was an excellent call as this level was extremely
Description Due to participate in a virtual panel discussion titled "Policy panel" at the ECB Forum on Central Banking;
Source Bank of England (latest release)
Speaker BOE Governor Andrew Bailey;
Usual Effect More hawkish than expected is good for currency;
FF Notes BOE Governor Mar 2020 - Mar 2028. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;
Why Traders
Care As head of the central bank , which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy ;