EURUSD: consolidation around the 1.0973 level

July 14, 2015

Sell on a level breakthrough of 1.0973 with 1.0915 target. Stop loss = 1.1030.

Reason for the trading strategy

Reaching an agreement between Greece and its creditors yesterday helped to reduce the yield on 2-year Greek bonds from 33.9% to 25.2% and helped the growth of the European stock markets. However, the euro is declining. As long as the Greek parliament does not approve the new austerity measures, the euro will be under pressure.

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