TRADING
TIPS :
The euro fell against the other major
currencies on Tuesday ahead of what looked to be an almost certain
default by Greece on a €1.6 billion loan repayment to the
International Monetary Fund later in the day. EUR/USD was down 0.65%
to 1.1162, falling back towards the one month lows of 1.0953 struck
on Monday after the crisis in Greece escalated. Greece’s bailout
program was due to expire on Tuesday and without a rescue package in
place Athens would almost certainly fall into arrears on a loan
repayment due to the IMF. A default by Greece would add to fears over
the country’s solvency and fuel doubts over the condition of Greek
banks and the collateral they use for European Central Bank loans.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5805 TARGET 1.5825 1.5855 SL 1.5775
SELL
GBPUSD BELOW 1.5715 TARGET 1.5695 1.5665 SL 1.5745
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1280 TARGET 1.1300 1.1330 SL 1.1250
SELL
EURUSD BELOW 1.1125 TARGET 1.1105 1.1075 SL 1.1155
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