TRADING
TIPS :
The EUR/USD pair trades modestly flat
at 1.0589, recovering from session lows struck at 1.0571 in early
Asia. The major attempts an anaemic recovery in anticipation of an
uptick in retail sales and consumer prices in the Euro zone’s
economic powerhouse, which may offer the much-need respite to the EUR
bulls.Germany’s CPI growth is expected to show a 0.1% advance m/m
in Nov, after a flat result reported in Oct, while the Oct retail
sales are predicted to show a 0.3% rise on a monthly basis, following
the flat result in September. However, the recovery is expected to
remain short-lived as the underlying monetary policy divergence
between both continents remain in focus heading into this week’s
ECB meeting.After a holiday-shortened last week, Monday’s trading
calendar offers significant economic news from Germany and the US.
However, the macro data may have limited impact as all eyes remain on
the ECB decision.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5050 TARGET 1.5070 1.5100 SL 1.5020
SELL
GBP/USD BELOW 1.5000 TARGET 1.4980 1.4950 SL 1.5030
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0620 TARGET 1.0640 1.0670 SL 1.0590
SELL
EUR/USD BELOW 1.0570 TARGET 1.0550 1.0520 SL 1.0600
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