EXNESS - Analytics

    EXNESS

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    EURUSD: consolidation above the level of 1.1358

    Sell on a level breakthrough of 1.1358 with 1.1300 target. Stop loss = 1.1408.

    Reason for the trading strategy

    The March statistics on industrial production in the three largest Eurozone economies turned out worse than expected. Meanwhile, the data on Germany's trade balance, which in March amounted to 23.6 billion euros (with a forecast of 20.4 billion euros), provided some support for the euro. No significant macroeconomic statistics for the Eurozone and the US is expected to be published today. There is a high probability of continued consolidation in the EURUSD pair.

     

    EURUSD, H4

     


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