EURUSD: growth after B.Obama's statement

June 9, 2015

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.

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