02.12.2014 8:08 EURUSD
EURUSD: under pressure against the background of a reduction in the business activity index in the manufacturing sector of the euro zone
Sell on a level breakthrough of 1.2418 with 1.2360 target. Stop loss = 1.2470.
Reason for the trading strategy
The November decline in the business activity index in the euro zone’s manufacturing sector from 50.4 p. to 50.1 p. lets us talk about the continued contraction of the European economy. We believe that the monetary stimulus measures being taken by the ECB will be able to revive demand in the euro zone no earlier than in spring 2015.
EURUSD, H4
04.12.2014 7:07 EURUSD
EURUSD: under pressure before the ECB meeting
Sell on a level breakthrough of 1.2295 with 1.2200 target. Stop loss = 1.2360.
Reason for the trading strategy
In November, the business activity index in the euro zone’s services sector fell from 52.3 p. to 51.1 p., while the retail sales, though increased by 0.4% (m / m), in October, were still lower than the forecast of 0.6% (m/m). All this testifies about the European economy’s bad state of health. The prospects for the euro in relation to the possible extension of the EU sanctions against Russia remains negative. Today, there is a high probability of the ECB announcing new stimulus programs in the euro zone.
EURUSD, H4
