TRADING
TIPS :
EUR/USD was trading at 1.2850, hovering
just above Monday’s 14-month trough of 1.2815.The pair was likely
to find support at 1.2815 and resistance at around the 1.29 level.
The euro was little changed after a report showed t That Germany’s
Ifo business confidence index deteriorated for the fifth successive
month in September.The Ifo economic institute’s business climate
index fell to 104.7 from 106.3 in August.The euro was steady against
the dollar on Wednesday, holding above 14 month lows after data
showed that business confidence in Germany continued to deteriorate
this month and after the European Central Bank reiterated its
commitment to accommodative monetary policy.Monetary policy will
remain accommodating for a long time and I can tell you t that the
Governing Council is unanimous in committing itself to using the
tools at its disposal to bring inflation back to just under 2%.
INTRADAY
OUTLOOK
Support:
1.2826
Resistance:
1.2843
RECOMMENDATION:
1.
Buy EUR/USD Above 1.2846-TG:1.2866/1.2896 SL 1.2816
2.
Sell EUR/USD Below 1.2824-TG:1.2804/1.2774 SL 1.2854
INTRADAY
OUTLOOK
Immediate
Support:1.6391
Immediate
Resistance:1.6412
RECOMMENDATION:
1.
Buy GBP/USD Above 1.6414-TG:1.6434/1.6464 SL 1.6384
2.
Sell GBP/USD Below 1.6389-TG:1.6369/1.6339 SL 1.6419
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