SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

The dollar edged away from a 6-1/2-month high against the euro on Monday, as investors took profits on the greenback’s surge after bumper U.S. jobs data bolstered bets on the U.S. Federal Reserve raising interest rates in December. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, slid 0.22% to 99.07, off Friday’s highs of 99.29, the highest level since mid-April.The greenback strengthened across the board after the Labor Department reported that the U.S. economy added 271,000 jobs last month, well ahead of the 180,000 expected by economists and the largest increase since December. “The lower euro/dollar goes, the less need there is for the ECB to do more,” said BNP Paribas (PA:BNPP) currency strategist Michael Sneyd in London.

RECOMMENDATION:

BUY GBP USD ABOVE 1.5101 TARGET 1.5121 1.5161 SL 1.5080

SELL GBP USD BELOW 1.5040 TARGET 1.5020 1.4980 SL 1.5070

RECOMMENDATION:

BUY EUR USD ABOVE 1.0790 TARGET 1.0810 1.0830 SL 1.0760

SELL EUR USD BELOW 1.0750 TARGET 1.0730 1.0700 SL 1.0780

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