The euro breaks the resistance of 1,1331

June 10, 2015

Buy on a level breakthrough of 1.1331 with 1.1466 target. Stop loss = 1.1280.

Reason for the trading strategy

In April, the volume of industrial production in France fell by 0.9% (m/m). The data reflects a decline in the real sector of the eurozone's second economy. The euro ignores the statistics, winning back the weakness of the US dollar in the international currency market. The American leadership, including the US Federal Reserve, is unhappy about the sharp increase in the US dollar. Meanwhile, the publication of the US retail sales data for May could increase the likelihood of growth of the key interest rate in the United States in the second half of 2015.

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