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.
February 21, 2017 XAU/USD pair maintained a bullish tone
Gold weakened on Monday amid a light market as American stocks were closed due to the President's day celebration. Market players wait for further hints regarding Fed’s rate hike timing...
February 21, 2017 Oil is heading in the right direction
Despite the assurance about the soft Brexit from the British Prime Minister the in consideration of the bill has been proving opposite, and the suppressing growth attempts of the British currency...
February 21, 2017 Greenback higher, but no incentives for big moves
After a muted trading session on Monday due to the U.S. holiday, the USD is finally showing signs of strength in early Asian trade as investors await economic data, speeches from several Fed Presidents, and minutes of the latest FOMC meeting.
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