Sell on a level breakthrough of 1.1097 with 1.1000 target. Stop loss = 1.1150.
Reason for the trading strategy
The ECB meeting, during which the regulator is likely to keep the monetary policy parameters unchanged, will be held today. Against the background of rising oil prices to 50 dollars per barrel the ECB may revise upwards the inflation forecast. Nevertheless, we can see risks of the euro declining below the level of 1.11 dollars. Tension in the EURUSD pair continues due to possible increase in the base interest rate in the US in June and the upcoming referendum in the UK. If the British vote for the UK leaving the EU, it will put pressure on the UK and Eurozone GDP and create preconditions for the EURUSD pair re-writing the 2015 low.
Reason for the trading strategy
The ECB meeting, during which the regulator is likely to keep the monetary policy parameters unchanged, will be held today. Against the background of rising oil prices to 50 dollars per barrel the ECB may revise upwards the inflation forecast. Nevertheless, we can see risks of the euro declining below the level of 1.11 dollars. Tension in the EURUSD pair continues due to possible increase in the base interest rate in the US in June and the upcoming referendum in the UK. If the British vote for the UK leaving the EU, it will put pressure on the UK and Eurozone GDP and create preconditions for the EURUSD pair re-writing the 2015 low.
Exness - EURUSD: consolidation before the ECB meeting
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