Buy on a level breakthrough of 1.1331 with 1.1466 target. Stop loss = 1.1270.
Reason for the trading strategy
At the G7 meeting, Barack Obama, the US President, said that a strong dollar is hurting the US economy in particular, if the world's reserve currency continues to grow in response to rising interest rates. Verbal intervention about the US dollar weakening against the background of strong economic data in Germany allowed the EUR/USD pair to test the 1.1331 level. In the short term, chances of it growing to its May high of 1.1466 still remain.
September 26, 2016 The aftershocks of FOMC
The FED did not raise interest rates last week, as it was anticipated by many market participants. It seems like the FED decided to go with status quo and wait until a new American president is elected. We are waiting for a rate hike to take a place in December as it would be logical and a well justified thing to happen...
September 26, 2016 The week ahead: Focus shifts from central banks to politics
Monday’s US presidential debate will probably break a new record, not in the S&P 500, but the number of viewers which according to media analyst could reach over 100 million Americans, surpassing Carter-Reagan debate in 1980 which attracted 80.6 million viewers...
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...
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