
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
2019-11-11 • Updated
Trade ideas
SELL 122.05; TP 121.30; SL 122.30
SELL 121.25; TP 120.90; SL 121.35
EUR/JPY is correcting up. There’s a bullish impulse on H4. However, the overall trend remains bearish. Moving averages are in a negative position. As a result, we think about selling the pair on rallies.
The upcoming events will surely bring volatility: the euro area will release flash CPI figures at 12:00 MT time today. In addition, the European Central Bank will meet on Thursday. All in all, the euro area has a lot of economic and political problems and is vulnerable to China’s economic slowdown, so we don’t think that the euro will be able to reverse to the upside.
Great Britain released retail sales data on May 20, 9:00 GMT+3. The reading outperformed expectations greatly (+1.4% actual vs. -0.3% forecast).
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