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.
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...
September 23, 2016 Greenback regains some ground
On Friday, the evergreen buck regained some ground against other key currencies, as markets kept digesting the Fed’s latest policy decision...
September 23, 2016 Dollar rebounds slightly as precious metals are in a hot zone
The US Dollar rebounds after a substantial selloff led by the FOMC decision to leave the interest rate unchanged. The Dollar index, which tracks the US currency against major peers, recoiled with support at a 95.00 level on Thursday, adding 0.05% to the 95.36 price in the early Friday session...
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