EXNESS - Analytics

    EXNESS

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    EURUSD: consolidation below the 1.1028 level

    Buy on a level breakthrough of 1.1028 with 1.1068 target. Stop loss = 1.0988.

    Reason for the trading strategy

    In January, the volume of industrial orders in Germany fell by 0.1% (m/m) with a forecast of a 0.4% (m/m) decline. In December, the decline in the index was revised from minus 0.7% (m/m) to minus 0.2% (m/m). The statistics, which turned out better than expected, supported the EURUSD pair. Today, it can test the 1.1068 level against the background of curtailing of the carry trade operations in Asia.

    EURUSD, H4


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