TRADING
TIPS :
EUR/USD hit 1.2394 during European
morning trade, the session low; the pair subsequently consolidated at
1.2451, shedding 0.20%. The pair was likely to find support at
1.2357, the low of November 7 and a 26-month low and resistance at
1.2568, the high of November 5.In a report, Eurostat said industrial
production in the euro zone increased by 0.6% in September, below
forecasts for a gain of 1.0%. Industrial production in August fell by
1.4%. Year-on-year, industrial production inched up 0.6% in September
from a year earlier, compared to expectations for a 0.2% decline and
after dropping at a rate of 0.5% in the preceding month.Meanwhile,
demand for the dollar continued to be underpinned by expectations
that the recovery in the U.S. will outstrip other major economies
INTRADAY
OUTLOOK
Support:
1.2440
Resistance:
1.2502
RECOMMENDATION:
1.
Buy EUR/USD Above 1.2504-TG:1.2524/1.2454 SL 1.2474
2.
Sell EUR/USD Below 1.2438-TG:1.2418/1.2388 SL 1.2468
INTRADAY
OUTLOOK
Immediate
Support: 115.02
Immediate
Resistance: 115.56
RECOMMENDATION:
1.
Buy USD/JPY Above 115.58-TG:115.78/116.08 SL 115.28
2.
Sell USD/JPY Below 115.00-TG:114.80/114.50 SL 115.30
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