TRADING
TIPS :
The euro eased back from three-week
highs against the dollar on Tuesday after data showing that German
economic sentiment deteriorated to the lowest level in a year this
month. EUR/USD was last at 1.1372, down from highs of 1.1410 ahead of
the report. The ZEW Centre for Economic Research said its index of
German economic sentiment fell to 1.9 this month from 12.1 in
September, well below economist’s forecasts for a reading of 6.0.It
was the sixth consecutive monthly decline.A separate index, measuring
current conditions dropped to 55.2 from 67.5 points in September,
compared to expectations for a drop to 64.7.“The weakening economic
development in emerging markets dampens the economic outlook for
Germany’s export-oriented economy,” ZEW President Clemens Fuest
said in a statement.“While economic growth in the second quarter
was largely driven by external demand, it is becoming less likely
that exports will stimulate growth in the near future.”
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5270 TARGET 1.5290 1.5330 SL 1.5240
SELL
GBP/USD BELOW 1.5210 TARGET 1.5190 1.5160 SL 1.5240
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1400 TARGET 1.1420 1.1450 SL 1.1370
SELL
EUR/USD BELOW 1.1350 TARGET 1.1330 1.1300 SL 1.1380
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