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15.07.202008:25 Forex Analysis & Reviews: Trading positions for EUR/USD on July 15, 2020

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EUR / USD

The euro rose after the release of good data on US inflation. This is because many investors are expecting a faster recovery in the global economy after the coronavirus pandemic. Since the US economy plays a paramount role in this, good reports on its condition tends to lead to an increase in demand for risky assets, such as the euro.

Buy positions when the quotes reach the level of 1.1413. This will increase the pair up to the level of 1.1460, which can occur after data on industrial production in the United States is published. Exit the market when the quotes reached the value of 1.1460.

Meanwhile, sell positions after the quotes reach the level of 1.1389. Such will decrease the pair to the level of 1.1351, where it is best to exit the market, as many bulls will be concentrated in this value, looking for a continuation of the trend.

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