TRADING
TIPS :
The pair has returned to the negative
territory on Friday following the dovish remarks by President
M.Draghi, who stressed the need to overcome the low levels of
inflation in the region. Currently, the EUR/USD pair trades -0.15%
higher at 1.0717, having posted fresh session lows at 1.0711 last
hours. The main currency pair extends its bearish momentum and came
under renewed selling pressure this session, after the greenback
swung back into gains boosted by Fed Fischer’s comments, which
signalled a Dec rate rise.Moreover, the latest set of upbeat US data
added to the signs that the US economic recovery is gaining traction
and hence spurred renewed bids in the USD. The number of first-time
applicants for unemployment benefits fell to 271,000 in the week of
November 14, against the previous week’s unrevised reading of
276,000 claims. While the Philly Fed Manufacturing Index surprised
markets to the upside.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5200 TARGET 1.5230 1.5260 SL 1.5170
SELL
GBP/USD BELOW 1.5150 TARGET 1.5120 1.5080 SL 1.5180
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0660 TARGET 1.0690 1.0740 SL 1.0620
SELL
EUR/USD BELOW 1.0600 TARGET 1.0570 1.0530 SL 1.0640
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