EURUSD: growth after the publication of the US Federal Reserve minutes

May 21, 2015

Buy on a level breakthrough of 1.1131 with 1.1204 target. Stop loss = 1.1071.

Reason for the trading strategy

The Federal Reserve meeting minutes for April have indicated a low probability of an increase of the US federal funds rate in June. Low growth of the US GDP in Q1 2015, inflation, which is well below the target level of 2%, and strong dollar do not allow the US Federal Reserve to proceed with a rapid tightening of monetary policy. The news is positive for the non-dollar assets.

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