The euro is getting closer to the 2014 lows

December 18, 2014

EURUSD

Buy on rebound from 1.2248 level with 1.2400 target. Stop loss = 1.2200.

Reason for the trading strategy

The November decline in inflation in the United States to the level of 1.3% made the US Federal Reserve soften its rhetoric and revise its forecast on the average level of the federal funds rate for 2015 from 1.375% to 1.125%. Nevertheless, the euro has decided to re-adjust itself to the 2014 lows. Near the 1.2248 level, demand for the euro is likely to rise again.

EURUSD, H4

 

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