TRADING
TIPS :
The pound edged lower against the U.S.
dollar on Friday, re-approaching a three-week trough as new hopes for
a U.S. rate hike before the end of the year sent the greenback
broadly higher.GBP/USD hit 1.5206 during European morning trade, the
session low; the pair subsequently consolidated at 1.5221, slipping
0.12%.Cable was likely to find support at 1.5168, the low of
September 7 and resistance at 1.5369, the high of September 23.In a
speech late Thursday, Fed Chair Janet Yellen said she expected the
central bank to begin raising rates later in 2015, as long as
inflation remained stable and the U.S. economy was strong enough to
boost employment.The comments came after a string of U.S. data
released on Thursday painted a mixed picture of the health of the
economy.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5210 TARGET 1.5230 1.5260 SL 1.5180
SELL
GBP/USD BELOW 1.5170 TARGET 1.5150 1.5120 SL 1.5200
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1200 TARGET 1.1220 1.1250 SL 1.1170
SELL
EUR/USD BELOW 1.1170 TARGET 1.1150 1.1120 SL 1.1200
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