TRADING
TIPS :
The euro remained broadly weaker
against the other major currencies on Monday, after Greece
overwhelmingly voted against further austerity measures, but the
single currency remained supported above the day’s lows. EUR/USD
was last at 1.1026, off 0.75% for the day after falling to one-week
lows of 1.0970 overnight. Greeks overwhelmingly rejected conditions
for a bailout package from creditors in a referendum on Sunday,
fueling doubts the country’s future in the euro zone and escalating
a standoff with its lenders. Greek Prime Minister Alexis Tsipras
welcomed the outcome of the vote and said Athens was returning to
bailout negotiations with the express goal of reopening banks, which
have been shut for over a week after capital controls were imposed.
Without more emergency funding from the European Central Bank,
Greece’s banks are facing a cash crunch within days. The ECB was to
discuss whether to maintain emergency funding for Greek banks at
their current restricted level later Monday.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5630 TARGET 1.5650 1.5680 SL 1.5600
SELL
GBPUSD BELOW 1.5530 TARGET 1.5510 1.5480 SL 1.5560
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1080 TARGET 1.1100 1.1130 SL 1.1050
SELL
EURUSD BELOW 1.0980 TARGET 1.0960 1.0930 SL 1.1010
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