Sell on a level breakthrough of 1.0950 with 1.0870 target. Stop loss = 1.1000.
Reason for the trading strategy
The US macro statistics signaled a growth of business activity in the US over the past two days. Home sales in the secondary US market grew, while the number of jobless claims fell by 26 thousand and totaled 255 thousand last week, which is the lowest figure since November 1973.
December 2, 2016 It's not the jobs numbers
It’s not bee the economy that has been driving the dollar over the past 3 weeks, of that we can be pretty sure. Rather, it’s been expectations of tax cuts and spending increases, together with incentives for dollar repatriation under the new President...
December 2, 2016 OPEC alliance stuck a global agreement
The Oil prices jumped on Wednesday after the organisation members agreed to pare production first time since 2008, to reduce global oversupply, which made the prices collapse by half since mid-2014...
December 2, 2016 Rebound continues in UK construction
The latest data on the UK construction sector was released this morning, and will likely be seen as positive overall as the recovery from the Brexit shock appears to be persisting. Despite this the FTSE 100 is under pressure this morning...
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