TRADING
TIPS :
The euro fell to the lowest level in
seven months against the dollar on Monday amid heightened
expectations that the European Central Bank will scale up its
monetary easing program next month. EUR/USD hit lows of 1.0600, the
weakest since April 15 and was last at 1.0620. The single currency
remained under heavy selling pressure after ECB head Mario Draghi
gave the clearest signal yet that the bank may unveil fresh stimulus
measures at its December meeting. The ECB is ready to act quickly to
boost inflation in the euro zone and can also change the level of its
deposit rate to boost the impact of quantitative easing, Draghi said
on Friday.The comments came during a conference in Frankfurt and
underlined the diverging monetary policy expectations between the
Federal Reserve and the ECB.The U.S. dollar index, which measures the
greenback’s strength against a trade-weighted basket of six major
currencies, hit seven-month highs of 100.04 on Monday and was last at
99.91.
RECOMMENDATION:
BU
Y GBP/USD ABOVE 1.5180 TARGET 1.5210 1.5240 SL 1.5150
SELL
GBP/USD BELOW 1.5120 TARGET 1.5100 1.5070 SL 1.5150
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0650 TARGET 1.0670 1.0700 SL 1.0620
SELL
EUR/USD BELOW 1.0600 TARGET 1.0580 1.0550 SL 1.0630
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