TRADING
TIPS :
The EUR/USD pair falls -0.25% to
1.1358, retreating from fresh two-day lows struck at 1.1354 last
minutes. The major ran through fresh offers near the hourly 20-SMA
placed at 1.1379 and accelerates losses thereon, with eyes set on the
hourly 200-DMA at 1.1338. The EUR/USD pair came under renewed selling
pressure after Thursday’s dovish comments from ECB policymaker
Ewald Nowotny spurred hopes of further QE expansion by the central
bank.More so, the persisting upbeat global sentiment drove the
European stocks higher for the second straight session, thus reducing
the demand for the euro as a safer bet. The pan European benchmark,
the Euro Stoxx 50 jumps 0.93% to 3,267 while the DAX advances 0.78%
to 10,141.Looking ahead, the pair will be influenced by the Euro zone
final CPI figures ahead of the US economic data releases with the
consumer sentiment survey expected to be the main market mover later
today.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5460 TARGET 1.5480 1.5510 SL 1.5420
SELL
GBP/USD BELOW 1.5400 TARGET 1.5380 1.5350 SL 1.5430
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1370 TARGET 1.1390 1.1420 SL 1.1340
SELL
EUR/USD BELOW 1.1300 TARGET 1.1280 1.1250 SL 1.1330
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