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.
January 18, 2017 Trump kicks the Dollar down
Trump hinted in his interview to the Financial Times that the US Dollar went for a far too extensive rally and the enthusiasm surrounding the bulls needs to be cooled...
January 18, 2017 Fed speakers, BoC and UK employment
We are going to see some central bank action (Canada) and hear from some Fed members and the chairwoman today. Apart from that we will get more information on the UK labor market and a data package from the US, including CPI for December and industrial output...
January 18, 2017 Aussie dollar cracks major levels
The Australian dollar swung heavily today as US bulls finally looked to sell off in the wake of economic uncertainty around the United Kingdom...
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.