Sell on a level breakthrough of 1.0809 with 1.0700 target. Stop loss = 1.0860.
Reason for the trading strategy
Yesterday, the EU has provided a 7.19 billion euro bridging loan to the Greek government, which helped Athens to repay 3.5 billion euros to the European Central Bank and the IMF. However, the adjusting growth of the euro against the US dollar did not occur. Yesterday James Bullard, the president of the Federal Reserve Bank of St. Louis, said that the probability of an increase of the US federal funds rate in September exceeds the level of 50%..