TRADING
TIPS :
The euro tumbled to three-week lows
against the U.S. dollar on Thursday, after European Central Bank
President Mario Draghi hinted at the possibility for further easing
measures before the end of the year. EUR/USD hit 1.1160 during U.S.
morning trade, the pair’s lowest since October 2; the pair
subsequently consolidated at 1.1171, plummeting 1.57%. The pair was
likely to find support at 1.1132, the low of October 1 and resistance
at 1.1351, the session high. The euro was hit after ECB President
Draghi said the central bank will “reexamine” its monetary policy
in December, hinting at the possibility for further easing
measures.In the U.S., the Department of Labor reported on Thursday
that the number of individuals filing for initial jobless benefits in
the week ending October 17 increased by 3,000 to 259,000 from the
previous week’s total of 256,000. Analysts had expected jobless
claims to rise by 9,000 to 265,000.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5370 TARGET 1.5390 1.5420 SL 1.5340
SELL
GBP/USD BELOW 1.5300 TARGET 1.5280 1.5250 SL 1.5330
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1030 TARGET 1.1050 1.1080 SL 1.1000
SELL
EUR/USD BELOW 1.0960 TARGET 1.0940 1.0910 SL 1.0990
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