Buy on a level breakthrough of 1.1290 with 1.1466 target. Stop loss = 1.1240.
Reason for the trading strategy
The meeting between Jean-Claude Juncker, the Head of the European Commission, and Alexis Tsipras, the Prime Minister of Greece, dedicated to the settlement of the Greek public debt ended in Brussels. According to A.Tsipras, an agreement (in Greek terms) will be reached soon. The euro wins back the news, testing a new high. Yesterday's increase in the ECB's 2015 inflation forecast from 0 to 0.3% per annum spurred a yield on German 10-year bonds from 0.7% to 0.9%, providing additional support for the euro.
January 16, 2017 Surging equities at risk ahead of earnings season
While earnings season has started on a very positive footing, however, banks and other financial companies were already expected to shine more than others due to rising interest rate expectations. As non-financial companies begin to report in the coming weeks...
January 16, 2017 Oil prices were unmoved
After reaching 56.50 dollars per barrel Brent rolled back to 55.50. The benchmark started Friday in a consolidation. Brent extended its sideways trades during the European session. The “black gold” was range-bound-to lower during the day...
January 16, 2017 XAUUSD at major resistance, time to sell
We turn bearish below 1198 resistance (Fibonacci retracement, horizontal resistance) as we prepare to see a strong move down to 1176 support (Fibonacci retracement, recent swing low support, Fibonacci projection)...
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