TRADING
TIPS :
The euro edged higher
against the dollar on Wednesday, while the commodity linked
currencies firmed up after steep declines in the previous two
sessions on the back of a selloff in oil prices. EUR/USD was up 0.25%
to 1.0918, recovering from Tuesday’s lows of 1.0829.Trade in the
euro remained subdued after last Thursday’s rally when the latest
round of European Central Bank easing measures fell short of market
expectations.The commodity related currencies, including the Canadian
dollar and the Norwegian crown, steadied as a selloff in commodities
eased after data showing that Chinese inflation picked up last month.
The U.S. dollar index, which measures the greenback’s strength
against a trade-weighted basket of six major currencies, was down
0.26% to 98.16.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5100 TARGET 1.5120 1.5150 SL 1.5070
SELL
GBP/USD BELOW 1.5060 TARGET 1.5040 1.5010 SL 1.5090
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0950 TARGET 1.0890 1.0920 SL 1.0840
SELL
EUR/USD BELOW 1.0900 TARGET 1.0810 1.0780 SL 1.0860
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