TRADING
TIPS :
The euro slid against the dollar on
Thursday, re-approaching seven-month lows amid heightened
expectations that the European Central Bank will announce further
monetary stimulus measures at its upcoming meeting next week. EUR/USD
eased 0.13% to 1.0610, nearing Wednesday’s lows of 1.0565, the
weakest level since April 14.The euro remained under pressure amid
heightened expectations that the ECB will implement fresh measures to
combat slowing growth and inflation in the euro area.Late last week
ECB head Mario Draghi gave the clearest signal yet that the bank will
unleash new easing measures, saying the back is ready to act quickly
to boost inflation in the region. The euro fell to seven month lows
against the yen overnight, with EUR/JPY hitting 129.89, be- fore
edging back up to 130.14.The U.S. dollar index, which measures the
greenback’s strength against a trade-weighted basket of six major
currencies, was at 99.9, not far from Wednesday’s peaks of 100.21.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5090 TARGET 1.5110 1.5140 SL 1.5060
SELL
GBP/USD BELOW 1.5050 TARGET 1.5020 1.4990 SL 1.5080
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0630 TARGET 1.0650 1.0680 SL 1.0600
SELL
EUR/USD BELOW 1.0600 TARGET 1.0580 1.0550 SL 1.0630
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