EURUSD: consolidation before the publication of data on the industrial production in the US

March 16, 2015

Sell on a level breakthrough of 1.0460 with 1.0400 target. Stop loss = 1.0510.

Reason for the trading strategy
Today at 13.15 GMT, the figures for the US industrial production will be published. The 0.3% (m/m) growth in this index expected in February may support the world's reserve currency. In the framework of the downtrend, opening short positions in the euro should be considered at a level breakthrough of the 1.046 support level.

EURUSD, H1

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