The big picture: Markets are waiting for the ECB
There are several important plots:
British Prime Minister May tries to save her agreement with the EU before the critical parliamentary voting on March 12-13 but it seems to be unsuccessful. Having spent most of the time but still without confirmation of the consent of the parliament, Theresa May will most likely be forced to accept and put to vote the question of postponing Britain's exit from the EU and the parliament will approve this postponement, which could be a one year delay or more. There is almost no time left until the original date on March 29.
The US-China trade deal seems have reached an agreement but even if it's not, Trump will most likely not start a new round of trade war given the risks of a start in an economic slowdown in the US.
Hence for this week, the main event for the euro is the decision of the ECB today at 12.45 London time and the speech of the head of the ECB at 13.30 London time.
Markets are waiting for a new liquidity stimulus program from the ECB. If such a program is adopted or not, the market can expect a strong movement in both cases.
We are ready to sell from the level of 1.1284.
We are ready to buy from the level of 1.1425.
