TRADING
TIPS :
The euro re-approached seven-month lows
against the U.S. dollar on Friday, as expectations for a December
rate hike in the U.S. broadly supported the greenback, while
speculation over additional easing measures in the euro zone
pressured the single currency lower. EUR/USD hit 1.0569 during U.S.
morning trade, the pair’s lowest since Wednesday; the pair
subsequently consolidated at 1.0583, sliding 0.27%. The pair was
likely to find support at 1.0564, Wednesday’s low and a seven-month
low and resistance at 1.0690, Wednesday’s high.The greenback
remained broadly supported after a string of upbeat U.S. data
released over the week added to expectations that the Federal Reserve
will raise interest rates next month.The euro was steady against the
pound, with EUR/GBP at 0.7026.In the U.K., the Office for National
Statistics reported on Friday that gross domestic productrose 0.5% in
the third quarter, in line with expectations and with a previous
estimate.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5070 TARGET 1.5090 1.5120 SL 1.5040
SELL
GBP/USD BELOW 1.5030 TARGET 1.5010 1.4980 SL 1.5060
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0620 TARGET 1.0640 1.0670 SL 1.0590
SELL
EUR/USD BELOW 1.0550 TARGET 1.0530 1.0500 SL 1.0580
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