TRADING TIPS :
EUR/USD hit lows of 1.2279, the weakest
level since August 16, 2012.Data released on Monday showed that
Japan’s third quarter economic contraction was deeper than
initially estimated. Revised data showed that Japan’s gross
domestic product contracted by an annualized 1.9%, more than the
preliminary estimate of a 1.6% decline. On a quarter-over-quarter
basis the economy contracted by 0.5% in the three months to
September, compared to a preliminary estimate of a 0.4% contraction.A
separate report showed that Chinese exports rose just 4.7% in
November from a year earlier, less than the expected 7.9% increase,
while imports fell 6.7% on a year-over-year basis. The weak data
added to concerns over a slowdown in the world’s second-largest
economy.In the euro zone, data showed that German industrial
production rose just 0.2% in October,
INTRADAY
OUTLOOK
Support:
1.2238
Resistance:
1.2302
RECOMMENDATION:
1.
Buy EUR/USD Above 1.2304-TG:1.2324/1.2354 SL 1.2274
2.
Sell EUR/USD Below 1.2235-TG:1.2215/1.2185 SL 1.2265
INTRADAY
OUTLOOK
Immediate
Support: 120.67
Immediate
Resistance: 121.28
RECOMMENDATION:
1.
Buy USD/JPY Above 121.30-TG:121.50/121.80 SL 121.00
2.
Sell USD/JPY Below 120.65-TG:120.45/120.15 SL 120.95
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