EURUSD: growth against the background of a weakening dollar

Buy on a level breakthrough of 1.1340 with 1.1450 target. Stop loss = 1.1290.

Reason for the trading strategy

A negative US macroeconomic statistics were published last Friday, which reduced the likelihood of key interest rate raising in this country. In March, the volume of industrial production in the US fell by 0.6% (m/m), with a forecast of a 0.1% (m/m) decline. In addition, the University of Michigan preliminary consumer confidence index in the US declined from 91 p. to 89.7 p. in April.

EURUSD: growth against the background of a weakening dollar

EURUSD: growth against the background of a weakening dollar

Buy on a level breakthrough of 1.1050 with 1.1140 target. Stop loss = 1.1000.

Reason for the trading strategy

The weak US macroeconomic statistics, published yesterday, reduced the probability of the US federal funds rate increase in March. The preliminary business activity index in the US declined from 53.7 p. to 49.8 p. in February, while new homes sales fell in January form 544 thousand to 494 thousand in annual terms.

EURUSD: growth against the background of a weakening dollar