TRADING
TIPS :
The euro remained close to seven-month lows
against the dollar on Tuesday despite data showing that German
investor confidence rebounded this month, as the diverging monetary
policy outlook between the Federal Reserve and the European Central
Bank weighed.EUR/USD hit lows of 1.0643, the weakest since April 16
and was last at 1.0662, off 0.22% for the day.The ZEW Cen tre for
Economic Research said German economic sentiment improved this month,
one month after the Volkswagen (DE:VOWG) emissions scandal sent the
index sharply lower.The ZEW index of economic sentiment rose to 10.4,
up from October’s reading of 1.9, which was a 12-month low.The U.S.
dollar index, which measures the greenback’s strength against a
trade-weighted basket of six major currencies, was last at 99.59,
after rising to seven month peaks of 99.74 earlier.
RECOMMENDATION:
BUY
GBP USD ABOVE 1.5230 TAGET 1.5250 1.5280 SL 1.5200
SELL
GBP USD BELOW 1.5160 TARGET 1.5140 1.5110 SL 1.5190
RECOMMENDATION:
BUY
EUR USD ABOVE 1.0700 TARGET 1.0720 1.0750 SL 1.0670
SELL
EUR USD BELOW 1.0650 TARGET 1.0630 1.0600 SL 1.0680
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