TRADING
TIPS :
The dollar moved lower against the on
Tuesday amid growing expectations that the greenback could weaken in
the wake of the Federal Reserve’s policy meeting later this week.
EUR/USD hit highs of 1.1060, the most since October 30 and was last
at 1.1049, up 0.52%. The U.S. dollar index, which measures the
greenback’s strength against a trade-weighted basket of six major
currencies, was at 97.32, off 0.44% for the day.Most investors expect
the U.S. central bank to raise interest rates for the first time
since June 2006 at its upcoming meeting on Wednesday. Higher interest
rates would make the dollar more attractive to yield-seeking
investors in the long run, but a rate hike could also trigger dollar
selling in the immediate aftermath.With a rate hike priced in
investors are now focusing on how quickly the Fed will tighten
monetary policy in 2016. The Fed has indicated that the pace of rate
hikes will be gradual.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5170 TARGET 1.5190 1.5220 SL 1.5140
SELL
GBP/USD BELOW 1.5140 TARGET 1.5120 1.5090 SL 1.517
0
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1050 TARGET 1.1070 1.110 SL 1.020
SELL
EUR/USD BELOW 1.1020 TARGET 1.1000 1.0970 SL 1.1050
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