TRADING
TIPS :
The EUR/USD continued to gain moving to
1.1372 with no help from today’s eurozone inflation which remained
at 0%. The dollar halted its decline leaving the euro overvalued. The
dollar was languishing at three-and-a-half week lows against the
other major currencies on Wednesday as weak Chinese inflation data
fueled expectations that the Federal Reserve will delay hiking rates
for longer. EUR/USD was up 0.36% to 1.1420, the most since September
18.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
U.S. dollar index, which measures the greenback’s strength against
a trade-weighted basket of six major currencies, was down 0.29% to
three-and-a-half week lows of 94.52.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5350 TARGET 1.5370 1.5400 SL 1.5320
SELL
GBP/USD BELOW 1.5300 TARGET 1.5280 1.5250 SL 1.5330
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1420 TARGET 1.1440 1.1470 SL 1.1390
SELL
EUR/USD BELOW 1.1370 TARGET 1.1350 1.1320 SL 1.1400
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