Buy on a level breakthrough of 1.1239 with 1.1295 target. Stop loss = 1.1190.
Reason for the trading strategy
Yesterday's publication of statistics on inflation and unemployment in the euro zone allowed the euro to briefly get closer to the resistance level of 1.1239. The February rise in oil prices contributed to the acceleration of annual inflation in the euro zone from -0.6% to -0.3%. The January decline in the unemployment rate from 11.3% to 11.2% will support the future GDP growth rate in the euro zone. Today's statistics on retail sales in Germany has promoted the growth in demand for the euro once again.
February 20, 2017 What is the next target for the UK?
The dramatical event looms large for Pound, which can sweep the British currency off its feet – the official exit from the EU. The Prime Minister Theresa May said that the process can be initiated as close as possible to the EU summit in Brussels, scheduled to take place on 9-10 March...
February 20, 2017 Gold remained around its recent peaks
Despite the overall positive outlook the yellow metal seems to be having problems with its further advance. Inability to move higher may return some selling pressure to markets. Sellers’ profit targets lie at 1230 and 1220 levels...
February 17, 2017 NZD looks to weaken
The New Zealand dollar has found itself under pressure in recent days as the market has started to hedge a little while it waits on the next steps for the US economy...
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