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The key move driving Euro Dollar
Richard Perry from Central Markets is taking advantage of the Dollar's weakness against the euro and is looking to buy Euro Dollar. His decision is driven by a key move above the $1.3200 resistance area.
The euro has rallied this week thanks to a quicker-than-anticipated expansion in German private sector business activity, a sign of recovery in the euro zone economy.
Meanwhile, weak US economic data out this week has bolstered the argument for the Federal Reserve to delay a reduction to its bond-buying programme.
The Fed buys $85 billion of debt each month as part of its quantitative-easing stimulus to cap borrowing costs.
Richard is looking for a stop just below $1.3066 and for a target of $13418.
01:01 minutes
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