The euro is successfully consolidating above the 1.2662 support level

September 28, 2014

Sell on a level breakthrough of 1.2662 with 1.2603 target. Stop loss = 1.2710. Reason for the trading strategy. Today at 12.30 GMT, the statistics on personal spending and income of American consumers will be published. The expected growth of both indices by 0.5% (m/m) and 0.3% (m/m) respectively in August is likely to increase pressure on the EURUSD pair. On a resistance level breakthrough of 1.2662, opening long positions is worth considering.

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