TRADING
TIPS :
The dollar edged higher
against the eur on Wednesday, as markets awaited the Federal
Reserve's highly anticipated policy decision due later in the day.
EUR/USD eased 0.10% to 1.0921. Most investors expect the U.S. central
bank to raise interest rates for the first time since June 2006 at
the conclusion of its meeting on Wednesday.Higher interest rates
would make the U.S. 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.The
U.S. dollar index, which measures the greenback’s strength against
a trade-weighted basket of six major currencies, was up 0.12% at
98.33.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5020 TARGET 1.5000 1.4970 SL 1.5050
SELL
GBP/USD BELOW 1.4970 TARGET 1.4950 1.4920 SL 1.5000
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0940 TARGET 1.0960 1.0990 SL 1.0910
SELL
EUR/USD BELOW 1.0900 TARGET 1.0880 1.00850 SL 1.0930
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