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.
September 23, 2016 Risk rating
The market is in need of a new narrative. The Fed meeting in December is too far off and for now, the US election is not something that entices excitement. With central banks on hold, markets are pushing the envelope in terms of risk...
September 23, 2016 Greenback regains some ground
On Friday, the evergreen buck regained some ground against other key currencies, as markets kept digesting the Fed’s latest policy decision...
September 23, 2016 Dollar rebounds slightly as precious metals are in a hot zone
The US Dollar rebounds after a substantial selloff led by the FOMC decision to leave the interest rate unchanged. The Dollar index, which tracks the US currency against major peers, recoiled with support at a 95.00 level on Thursday, adding 0.05% to the 95.36 price in the early Friday session...
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