TRADING
TIPS :
The pound rose against the U.S. dollar
on Friday, after data showed that construction activity in the U.K.
expanded at the fastest rate since March last month, while markets
eyed the release of highly-anticipated U.S. employment data later in
the day.GBP/USD hit 1.5174 during European morning trade, the session
high; the pair subsequently consolidated at 1.5165, rising 0.22%.
Cable was likely to find support at 1.5105, Thursday’s low and a
nearly five-month low and resistance at 1.5213, the high of September
30.Research group Markit reported on Friday that its U.K.
construction purchasing managers’ index rose to a six-month high of
59.9 in September from a reading of 57.3 in August. Analysts had
expected the index to tick up to 57.5 last month.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5230 TARGET 1.5250 1.5280 SL 1.5200
SELL
GBP/USD BELOW 1.5200 TARGET 1.5180 1.5150 SL 1.5230
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1250 TARGET 1.1270 1.1300 SL 1.1220
SELL
EUR/USD BELOW 1.1220 TARGET 1.1200 1.1170 SL 1.1250
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