TRADING
TIPS :
The euro erased gains against the U.S.
dollar on Friday, re-approachimg Thursday’s one-and-a-half month
trough as upbeat U.S. data fuelled further hopes for a U.S. rate hike
in the near future, sending the greenback broadly higher. EUR/USD
pulled back from 1.0907, the session high, to hit 1.0852 during U.S.
morning trade, slipping 0.23%. The pair was likely to find support at
1.0817, the low of May 17 and resistance at 1.0963, Thursday’s
high. The dollar strengthened broadly after data on Friday showed
that the U.S. consumer price index rose 0.3% in June, in line with
expectations and after a 0.4% gain the previous month. On a yearly
basis, consumer prices rose 0.1% in June, in line with market
expectations.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5680 TARGET 1.5700 1.5730 SL 1.5650
SELL
GBPUSD BELOW 1.5540 TARGET 1.5520 1.5490 SL 1.5570
RECOMMENDATION:
BUY
EURUSD ABOVE 1.0865 TARGET 1.0885 1.0915 SL 1.0835
SELL
EURUSD BELOW 1.0825 TARGET 1.0805 1.0775 SL 1.0855
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