Buy on a level breakthrough of 0.7260 with 0.7300 target. Stop loss = 0.7220.
Reason for the trading strategy
The National Development and Reform Commission (NDRC) of China approved the project of railway lines construction in Zhejiang, an eastern coastal province of China; the volume of investments is estimated at nearly $4.5 billion. China is the biggest consumer of copper in the world (and Australia is its biggest exporter), and this project will contribute to a growth of demand for non-ferrous metal. Today, copper futures rose by 0.22% to $2.08. per pound.
Reason for the trading strategy
The National Development and Reform Commission (NDRC) of China approved the project of railway lines construction in Zhejiang, an eastern coastal province of China; the volume of investments is estimated at nearly $4.5 billion. China is the biggest consumer of copper in the world (and Australia is its biggest exporter), and this project will contribute to a growth of demand for non-ferrous metal. Today, copper futures rose by 0.22% to $2.08. per pound.
Exness - The rising prices for copper have supported the Aussie
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