EXNESS - Analytics

    EXNESS

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    EURUSD: consolidation below the 1.1375 level

    Buy on a level breakthrough of 1.1375 with 1.1496 target. Stop loss = 1.1325.  

    Reason for the trading strategy

    The continued curtailing of the carry trade operations makes investors buy euros. Yesterday, the European stocks ended the day with a strong decline: The DAX 30 fell by 2,93%, the CAC40 fell by 4,05%, etc. Investors are extremely worried about a substantial increase in the cost of Deutsche Bank's credit-default swaps (CDS): 5-year CDS on the bank's subordinated debt reached a record high of 540.77, surpassing the 2008 peak.    

    EURUSD, H1


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