TRADING
TIPS :
The EUR/USD pair trades 0.12% higher at
fresh session lows of 1.0670, having faced rejection near 1.0715
area. Positive RSI divergence continues to point to weakening selling
pressure and hints a rebound may be ahead. The main currency pair
halted its corrective rally and turned back lower below 1.07 handle,
as the greenback recovered more than half its slide against its major
competitors. Moreover, a flying start seen on the European equities
brought in renewed optimism in markets as the European traders brush
off the recent FOMC minutes and now look forward to the ECB October
meeting account.The major came under renewed selling pressure as the
persisting divergent monetary policy outlooks between both continents
continue to dampen the sentiment around the euro.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5280 TARGET 1.5300 1.5330 SL 1.5250
SELL
GBP/USD BELOW 1.5230 TARGET 1.5210 1.5180 SL 1.5260
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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