Buy on a level breakthrough of 1.5375 with 1.5450 target. Stop loss = 1.5325.
Reason for the trading strategy
In May, the business activity index in the UK services sector fell from 59.5 p. to 56.5 p., not allowing the pound to rise above the 1.5375 level yesterday. Today, market participants' attention will be focused on the Bank of England. It is expected that the regulator will keep its key interest rate and volume of asset purchases unchanged. The regulator will probably present new projections for inflation and growth rate of the British economy.
October 21, 2016 EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016 Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016 EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...
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