The euro edged higher on Thursday, breaking a six-week losing streak, supported by a drop in Italian bond yields after a revived coalition deal between two anti-establishment parties pulled the country back from snap elections.                                                                             

Better-than-expected U.S. employment data on Friday kept the dollar afloat, even as the European Union, Canada and Mexico are expected to retaliate to the import tariffs on steel and aluminum announced by President Donald Trump.

This is how we trade now:

EUR/USD

Trading strategy: Long

Open: 1.1600

Target: 1.1780

Stop-loss: 1.1600 (raised from 1.1510)

Recommended size: 1.67 mini lots per $10,000 in your account

Short analysis: Recent rallies fail to hold above 1.1700 and the 10-day SMA. This suggest bears have the upper hand. A doji candle suggests indecision though. We have raised the stop-loss to the entry point. Our trade is risk free now.

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