EXNESS - Analytics

EXNESS

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EURUSD: consolidation below the level of 1.0833

Buy on a level breakthrough of 1.0833 with 1.0893 target. Stop loss = 1.0783.

Reason for the trading strategy

Yesterday, fluctuations in the EUR/USD pair occurred in the wide range of 1.0675-1.0833 against the background of verbal interventions coming from the Heads of the ECB and the US Federal Reserve, as well as James Bullard, Evans, etc. Mario Draghi said that the ECB could change the type, size and duration of the asset purchases program. Against this background, the euro tested the lower boundary of the range considered. However, Evans' statement, that the inflationary pressures in the US remains low, and the key interest rate will not exceed the level of 0.75-1% by the end of 2016 (that is, its future increase being at a low rate), pushed the euro up to the upper limit of the range.

EURUSD, H4

EURUSD



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