EURUSD: consolidation below the 1.09 resistance level

April 27, 2015

Buy on a level breakthrough of 1.0900 with 1.1020 target. Stop loss = 1.0840.

Reason for the trading strategy
Last Friday, the weak data on the volume of durable goods orders in the United States were published. In March, the core of the index fell by 0.2% (m/m). The statistics indicates a reduction in business activity in the manufacturing sector of the US economy and puts pressure on the dollar. With regard to Greece, the situation remains the same. The Greek government wants to reach an agreement with its creditors, which would be aimed at stimulating growth, payment of pensions and social benefits, etc., but this does not suit its creditors.


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