Buy on a level breakthrough of 1.1041 with 1.1100 target. Stop loss = 1.0990.
Reason for the trading strategy
In October, the volume of industrial production in the Eurozone increased by 0.6% (m/m), with a forecast of 0.3% (m/m). In addition to the macroeconomic data the euro is supported by M. Dragi words. Yesterday, the head of the ECB said that inflation will reach the target level of 2% in the Eurozone without undue delay after the decision to extend the asset purchases program in the region until March 2017. According to him, the ECB is ready to use all the available monetary policy instruments to achieve this goal.
Reason for the trading strategy
In October, the volume of industrial production in the Eurozone increased by 0.6% (m/m), with a forecast of 0.3% (m/m). In addition to the macroeconomic data the euro is supported by M. Dragi words. Yesterday, the head of the ECB said that inflation will reach the target level of 2% in the Eurozone without undue delay after the decision to extend the asset purchases program in the region until March 2017. According to him, the ECB is ready to use all the available monetary policy instruments to achieve this goal.
The euro is heading for the level of $1.11
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