The euro climbed on Thursday’s following strong German data, though gains were capped before the release of Fed minutes later in the day.

Media reports that the European Central Bank may be preparing to raise interest rates by next September or October also helped the euro, though thin volumes were a factor, with U.S. markets shut overnight for Independence Day.

We’ve made some reshuffles in our trades.

This is how we trade now:


Trading strategy: Long

Open: 1.1700

Target: 1.1830

Stop-loss: 1.1635 (lowered from 1.1810)

Recommended size: 2.50 mini lots per $10,000 in your account

Short analysis: We've closed our EUR/USD short and switched to long position at 1.1695. EUR/USD bulls seem poised to go higher, scope is growing for gains towards at  key 1.1755 Fibonacci level, 23.6% retrace of the 1.2555 to 1.1508 2018 fall. Fourteen-day momentum has turned positive, reinforcing the overall upside bias.

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