32 pip profit from a revived victim!

German Producer Prices rose 1.0 percent, 0.1 more than estimates. I closed the position (buy EURUSD) at 1.5528, about 15 minutes before the release; taking 32 pip profit which most of it created in the last 15 minutes. (the plan of trade)

Buying EURUSD; Betting on a Victim

• Euro was a victim of a better than expected Retail Sales in UK, which was highest in almost two decades. Before that, Swiss National Bank cast shadow on possibility of interest rate rise in Switzerland as well as euro area, caused that demand for sterling increased so fast that makes liquidity problem in pound crosses, especially for GBPCHF and EURGBP, which finally translated in selling Euro against dollar.


• In addition, China announced that it is going to raise the price of gasoline, makes the oil price to drop more than 4 dollar; and it was not only another hit to euro but also the reason behind recent rise in US indexes.
  
• Today data from US was mixed. Philly Fed. Index dropped more than estimates when leading indicators increased 0.1 percent.


• I think all of them have priced so far and the market would start thinking about tomorrow German Producer Prices, which is expected to reinforce concerns on inflationary pressures in ECB's calculations.

In less than 30 minutes to the market close, I decided to buy EURUSD at 1.5496; as always I would increase the size if I see improvement in technical data.