TRADING
TIPS :
The dollar moved higher against the yen
on Wednesday as the prospect of more economic stimulus by China
bolstered risk appetite and dampened demand for the safe haven yen.
USD/JPY rose 0.74% to 120.70, off overnight lows of 119.8.Japan’s
Nikkei posted the largest one day percentage gain in seven years on
Wednesday after China’s finance ministry said late Tuesday that it
would implement fresh measures to stimulate economic growth.Chinese
equeties rallied as the announcement alleviated concerns over slowing
growth, driving broader gains in regional equity markets and in
commodity markets.The dollar was also higher against the euro, with
EUR/USD dipping 0.17% to 1.1182.The U.S. dollar index, which measures
the greenback’s strength against a trade-weighted basket of six
major currencies, rose 0.25% to 96.08.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5445 TARGET 1.5465 1.5495 SL 1.5415
SELL
GBPUSD BELOW 1.5370 TARGET 1.5350 1.5320 SL 1.5400
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1220 TARGET 1.1240 1.1270 SL 1.1190
SELL
EURUSD BELOW 1.1165 TARGET 1.1145 1.1115 SL 1.1195
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