TRADING TIPS :
EUR/USD was up 0.24% to 1.2484, recovering from Friday’s 26-month trough of 1.2356.The dollar turned lower after data on Friday showed that though employment growth was solid last month, the U.S. economy added fewer than expected jobs. The soft data prompted investors to take profits in the greenback following its recent rally. The Labor Department said 214,000 jobs were created in October, less than expectations of 231,000.The U.S. unemployment rate ticked down to a fresh six-year low of 5.8% from 5.9% in September. The US dollar index, which tracks the performance of the greenback against a basket of six major currencies, was down 0.27% to 87.43, off Friday’s four-and-a-half year peaks of 88.31.
INTRADAY OUTLOOK
Support: 1.2449
Resistance: 1.2503
RECOMMENDATION:
1. Buy EUR/USD Above 1.2505-TG:1.2525/1.2555 SL 1.2475
2. Sell EUR/USD Below 1.2447-TG:1.2427/1.2397 SL 1.2477
INTRADAY OUTLOOK
Immediate Support: 114.02
Immediate Resistance: 114.58
RECOMMENDATION:
1. Buy USD/JPY Above 114.60-TG:114.80/115.10 SL 114.30
2. Sell USD/JPY Below 114.00-TG:113.80/113.50 SL 114.30
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EUR/USD was up 0.24% to 1.2484, recovering from Friday’s 26-month trough of 1.2356.The dollar turned lower after data on Friday showed that though employment growth was solid last month, the U.S. economy added fewer than expected jobs. The soft data prompted investors to take profits in the greenback following its recent rally. The Labor Department said 214,000 jobs were created in October, less than expectations of 231,000.The U.S. unemployment rate ticked down to a fresh six-year low of 5.8% from 5.9% in September. The US dollar index, which tracks the performance of the greenback against a basket of six major currencies, was down 0.27% to 87.43, off Friday’s four-and-a-half year peaks of 88.31.
INTRADAY OUTLOOK
Support: 1.2449
Resistance: 1.2503
RECOMMENDATION:
1. Buy EUR/USD Above 1.2505-TG:1.2525/1.2555 SL 1.2475
2. Sell EUR/USD Below 1.2447-TG:1.2427/1.2397 SL 1.2477
INTRADAY OUTLOOK
Immediate Support: 114.02
Immediate Resistance: 114.58
RECOMMENDATION:
1. Buy USD/JPY Above 114.60-TG:114.80/115.10 SL 114.30
2. Sell USD/JPY Below 114.00-TG:113.80/113.50 SL 114.30
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