We've just come out of an excellent trade (around 400 pips) and now we will focus on finding a possible reversal trend area.
Click and Play Chart below for to see our strategy:
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Amongst the salient points of her speech on ‘US Economic Outlook’, Chairwoman J.Yellen reiterated that the weakness seen during the first quarter was transitory, expecting the economic growth to resume its pace towards Q2. On the timing of the rates lift-off, Yellen expects a hike at some point this year.
Regarding Greece, there was no major news from the EU Leaders Summit in Riga, in line with previous expectations. While the country is running out of time to clinch a deal with its EU creditors, speculations and rumours regarding the likeliness of a default, a parallel currency and the like continue to build up amongst traders, as significant repayments are looming and the lack of progress in the negotiations is really alarming.