TRADING
TIPS :
The increased bid tone around the US
dollar finally sweeps the cable off its feet, now pushing GP/ USD
back near session lows below 1.55 handle. The GBP/USD pair trades
0.12% higher at 1.5479, finding stiff barrier at 1.5500. The cable
gave up its struggle to reclaim 1.55 handle and trimmed gains,
falling further towards the session lows, as the pound finally
surrendered to the strengthening US dollar, riding higher on the back
of stabilizing global equities and upbeat US durable goods data
released in the US last session. Moreover, Chinese markets bouncing
today also bolstered the prevailing risk- sentiment, further
increasing the demand for the newly pronounced risk currency – the
USD. The US dollar index , a virtual measure of greenback’s
strength now trades 0.10% higher at 95.38. Markets now shift focus
towards the US data due later today which may have major influence on
the cable. US Q2 GDP report will be reported along with weekly
jobless claims and pending home sales data.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5510 TARGET 1.5530 1.5560 SL 1.5480
SELL
GBPUSD BELOW 1.5160 TARGET 1.5140 1.5110 SL 1.5190
RECOMMENDATION:
BUY EURUSD ABOVE
1.1290 TARGET 1.1310 1.1340 SL 1.1260
SELL EURUSD BELOW
1.1150 TARGET 1.1130 1.1100 SL 1.1180
0 comments:
Post a Comment