TRADING
TIPS :
The euro rose against the dollar and
the yen on Friday amid renewed hopes for a deal on a bailout for
Greece that would prevent a possible exit from the single currency
bloc. Hopes for a breakthrough on a new bailout deal for Greece were
boosted after the government put forward new proposals on budget cuts
and economic reforms ahead of a meeting of the euro group of finance
ministers on Saturday. EUR/USD was up 1.1% to 1.1148 late Friday
after rising to a one-week peak of 1.1215 earlier in the session. The
single currency pared back gains after Federal Reserve Chair Janet
Yellen said the central bank was on track to raise interest rates at
some point this year. She added that she felt an initial rate hike
will have a small impact and reiterated that rates would rise only
gradually. EUR/JPY jumped 2.33% to 136.94 in late trade. The dollar
also gained ground against the yen, with USD/JPY advancing 1.18% to
122.67, recovering from the one-and-a-half month lows of 120.40 set
on Wednesday. The yen had strengthened broadly earlier in the week as
the deteriorating situation.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5590 TARGET 1.5610 1.5640 SL 1.5560
SELL
GBPUSD BELOW 1.5368 TARGET 1.5348 1.5218 SL 1.5398
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1215 TARGET 1.1235 1.1265 SL 1.1185
SELL
EURUSD BELOW 1.0980 TARGET 1.0960 1.0930 SL 1.1010
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