In the short term, the euro may update its May high

4 June, 2015

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.


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