EURUSD: consolidation before the publication of data on American consumers' personal income and spending

March 30, 2015

Sell on a level breakthrough of 1.0853 with 1.0800 target. Stop loss = 1.0900.

Reason for the trading strategy
The US GDP in Q2 of 2014 increased by 2.2% (q/q), with a forecast of 2.4% (q/q). The data is moderately negative for the US dollar. Today, the global reserve currency may be supported by the statistics on American consumers' personal income and spending.


Publication source
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