EUR/USD is giving us a hard time these days. Yesterday we were trading through volatility in the couple and today we are going to have to do the same. But why?

Well, yesterday, the same as today, President of ECB Lagarde is giving a speech. As head of the ECB, which controls short term interest rates, she has more influence over the euro's value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy. Of course, it is clear that Lagarde is not going to be blunt and tell us all the problems, troubling European economy. But, she can give us hints. And that is exactly what we are living on – hints that Lagarde might give us.

But, knowing the current state of European economy, we are on the edge of our seats – what if the situation has got even worse? What are we going to do then? Well, that is exactly why we are so focused on this speech. It is going to give us a little bit more of a perspective of what is going on with EUR at the moment and what we are to do with it in the long-run.

So, if you are trading EUR/USD, stick with our trading signals for the day.