Buy on rebound from 1.5633 level with 1.5812 target. Stop loss = 1.5580.
Reason for the trading strategy
The UK's Rightmove house price index fell by 0.1% (m/m) in May. In annual terms, price growth has slowed down from 4.7% to 2.5%. The data reflect low inflationary pressures in the country, as well as a weakness of the purchasing power of British households. With an adjusting decline to the 1.5633 level, opening long positions in the pound should be considered.
January 23, 2017 The Week ahead: Politics to take center stage
Donald Trump is finally in power, a new era has arrived, and his policy plans in the first couple of weeks will override fundamentals. Markets spent more than two months pricing in growth policies promises, lowers corporate taxes, and deregulations, now it is time to deliver as markets will no more move on words but actions...
January 23, 2017 Dollar opens weak as markets cautious on the new Trump administration
The U.S. dollar continued to extend the declines for what could a third consecutive day. On Friday, Donald Trump took office as the 45th President of the United States...
January 20, 2017 The dollar has settled moderately lower
Asian stock markets were mixed overnight, after U.S. and European shares closed in the red Thursday. Japan and mainland China bourses managed to move higher (Chinese GDP beat expectations at 6.8%)...
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