Buy on a level breakthrough of 1.1410 with 1.1458 target. Stop loss = 1.1362.
Reason for the trading strategy
Expectations of a decline in the euro zone's business sentiment index in October do not put any significant pressure on the euro. Moreover, investors are buying the EUR/USD pair against the background of curtailing of the euro carry trades. Currently, the European Euro Stoxx 50 index is losing more than 1.5%, testing the mark of 3200 p. Perhaps market participants are concerned that the pace of China's economy growth of Q3 2015 will be less than 7% in annualized terms.
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As we noted the day before Friday’s US jobs report, only a significantly worse-than-expected reading for November would have likely made the Federal Reserve’s next interest rate decision more difficult...
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Politics are setting the tone for Monday trading with all eyes on Europe. While Austria presidential polls delivered a defeat to the far-right candidate Norbert Hofer...
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