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Main » 2019 » May » 15 » Trading ideas forex traders today 15/5/2019: An important day for the euro
11:21
Trading ideas forex traders today 15/5/2019: An important day for the euro

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Today is an important day for the European currency. After a few hours the attention of traders will present data on the economic growth of the Eurozone, which may well be a decisive proof of the very weak economic situation of the currency bloc. According to the forecasts, GDP Euro zone Q1 will be 0.4%. We believe that the real figure will be lower. Weaker expectations due to the latest EU industrial production data, decreased by more than 1% in the euro area according to which the industry in the first quarter of 2019.

 

 

AMarkets

 

 

Additional pressure on the euro and has a decline in services, as well as the dismal performance consumer activity, which are a major cause of low inflation, significantly falls short of the target of the ECB guideline. It is worth noting that the euro area continues to discount the risks of a global economic slowdown caused by the uncertainty in world trade due to the complicated Sino-US relations. On the side of the pair EURUSD sellers and soft monetary policy ECB, which provides maintaining low rate for a long period of time, as well as activation of additional monetary easing tools. Market participants are hoping for the next meeting of the ECB to receive details on TLTRO program, which renew the European regulator plans in the coming months. Taking this into account,


EURUSD SellStop 1,1190 TP 1,1020 SL 1,1220


Brent crude oil remains in the previous range of $ 70-72 per barrel. Market participants continue to monitor developments in the Middle East, where the day before armed drones struck two oil pumping station in Saudi Arabia, two days after the sabotage of tankers off the coast of the United Arab Emirates. The attacks took place against the backdrop of tensions between the US and Iran after Washington's decision this month to try to reduce the export of Iranian oil to zero, and strengthen its military presence in the Persian Gulf. Evidence that these incidents involved Tehran does not, however, the United States continues to impose on the international community's position that Iran took in this most directly involved. It is worth noting that if the escalation of tensions in the Middle East will lead to a decline in world hydrocarbon supplies, oil prices could resume the upward rally. However, given the present market concerns over the prospects for global economic growth this scenario is not the most likely. The situation is exacerbated by the weak statistics from China. Published a few hours ago, data on China's industrial production pointed to a continuation of the sector downturn that only increased the likelihood of further decline in demand for "black gold" from the key oil importer. Local sales trigger oil industry can act and data on the growth in US oil inventories, which will be released today at 17:30 GMT. Published a few hours ago, data on China's industrial production pointed to a continuation of the sector downturn that only increased the likelihood of further decline in demand for "black gold" from the key oil importer. Local sales trigger oil industry can act and data on the growth in US oil inventories, which will be released today at 17:30 GMT. Published a few hours ago, data on China's industrial production pointed to a continuation of the sector downturn that only increased the likelihood of further decline in demand for "black gold" from the key oil importer. Local sales trigger oil industry can act and data on the growth in US oil inventories, which will be released today at 17:30 GMT.


UKOIL SellStop 70,80 TP 68,20 SL 71,30


Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author Artem Deev trader analyst AMarkets.

 

 

 

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