The first day of the week wasn’t outstanding. Yesterday at American session market activity increased slightly. There weren’t notable events. By the end of the day dollar passed its positions a little bit, still, it didn’t add certainty.
On the second day of the week news background is limited too. Speaking of economic statistics, only US consumer confidence index will be interesting, usually it isn’t in the focus, but players pay attention to this indicator from time to time, especially when it changes considerably. This time slight growth is expected, but it won’t become a defining factor for dollar. Today the main focus will be on Janet Yellen’s speech to the Economic club of NY. Last week some representatives of the Fed claimed that increase in rates can happen in April. It somehow contradicts quite “soft” comments of Yellen. There are no reasons to presume that they will change for such short period of time. Therefore, risks of dollar’s decrease after her speech today are quite high.
To aggressive traders we recommend considering purchase of EURUSD pair under breakthrough of 1.1220, stop at 1.1130, the initial aim is at 1.1290 – 1.1310. In case of a pair growth of more than 30 points from the entry point, rearrange stop at the entry point.
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