EXNESS - Analytics

    EXNESS

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    EURUSD: consolidation around the level of 1.12

    Buy on a level breakthrough of 1.1238 with 1.1300 target. Stop loss = 1.1188.

    Reason for the trading strategy

    According to the European Commission forecasts, the Eurozone's GDP will amount to 1.7% rather than 1.8% in 2016; the unemployment rate will amount to 10.5% rather than 10.6%; and the inflation will be 0.5% rather than 1%. In addition, low oil prices, interest rates and weak euro support the economic growth. The yield on 10-year German bonds has increased by 3 bps for the last day, and the yield on similar American bonds decreased by 1 bps, which has supported the EURUSD pair.      

     

    EURUSD, H1


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