Buy on rebound from 1.1067 level with 1.1131 target. Stop loss = 1.1017.
Reason for the trading strategy
Yesterday's statement made by Coeuré about the fact, that the ECB may buy twice the amount of EU bonds than usual in May and June, triggered a decline in the euro and non-dollar assets in relation to the world's reserve currency. The publication of the April statistics on the US construction sector has caused additional demand for the US dollar. Today, attention should be paid to the publication of the minutes of the previous US Federal Reserve meeting.
October 24, 2016 A volatile week ahead
Global stocks were resilient last week Friday with major arenas clawing back gains following the upbeat corporate earnings and stabilising oil prices which revived risk appetite...
October 24, 2016 Gold prices edged lower
Gold prices traded mixed on Friday. The yellow metal traded lower the half of the day and higher the other half. Sellers moved the price to the level 1260 dollar per ounce which appeared a solid barrier for it. The pair bounced from the level and reversed some of its losses...
October 24, 2016 Earnings and Macro data to drive financial markets the week ahead
A pretty robust U.S. corporate announcements last week indicated that thereâ€™s a high chance for corporate America to get out of a profit recession which lasted for five consecutive quarters...
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