Buy on a level breakthrough of 1.0680 with 1.0740 target. Stop loss = 1.0620.
Reason for the trading strategy
The strong data on industrial production in the euro zone and the weak retail sales in the US have allowed the euro to rebound from the 2015 lows. In addition, yesterday, the IMF raised its forecast for GDP growth in the euro zone for 2015 by 0.3 percentage points to 1.5% due to the fall of the euro against the US dollar. The rise in the yield of 10-year Greek government bonds to 11.95% causes concern among the buyers of the euro.
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)...
October 21, 2016 US Presidential Election: Final Debate Aftermath
With the dust having settled after Wednesday final US presidential debate of the 2016 campaign between Donald Trump and Hillary Clinton, the results have become rather apparent...
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