Buy on a level breakthrough of 1.1358 with 1.1448 target. Stop loss = 1.1300.
Reason for the trading strategy
Yesterday, the euro zone finance ministers approved the 4 month extension of aid to Greece, as they were satisfied with the list of reforms to be undertaken in this country. In particular, an increase in the income tax rate in Greece, consolidation and optimization of pension policy and other reforms are expected. After this information was released, the yield on 10-year Greek bonds declined from about 9.5% to 8.8%.
October 27, 2016 Brexit Barometer
The Brexit vote back in June taught markets never to take anything for granted and the same holds true for the upcoming US Presidential election. A poll lead for Trump in Florida yesterday, combined with some further revelations in the daily mud-slinging...
October 26, 2016 Sterling reversal
What we saw in sterling yesterday was instructive of the dilemma that may face other central bankers before long. Carney played down expectations of a further easing in policy before the end of the year, as was strongly suggested in August when they eased policy in the wake of the Brexit referendum...
October 24, 2016 Important economic events for the coming week
Monday, October 24, 2016 - JPY Small Business Confidence (OCT), EUR Markit/BME Germany Manufacturing PMI (OCT P), USD Markit US Manufacturing PMI (OCT P)...
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