TRADING
TIPS :
EUR/USD rose
considerably during an abbreviated session, as currency traders
looked to capitalize on last-minute gains ahead of the Christmas
holiday. The currency pair traded between 1.0904 and 1.0966 before
settling near session-highs at 1.0963, up 0.0052 or 0.47% on the
session. EUR/USD has been relatively flat since last week's historic
decision by the Federal Reserve to abandon a seven-year zero interest
rate policy by approving its first rate hike in nearly a decade. he
pair is also virtually unchanged since the European Central Bank
rattled global foreign exchange markets on December 3 with an
unexpected decision to approve only limited easing measures with its
comprehensive asset-purchasing program. EUR/USD has fallen sharply
from its level of 1.2104 on New Year's Day, 2015, amid continuing
signs of divergence between the Fed and the ECB.
RECOMMENDATION:
BUY
USD/JPY ABOVE 120.50 TARGET 120.70 121.00 SL 120.20
SELL
USD/JPY BELOW 120.00 TARGET 119.80 118.60 SL 120.30
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0970 TARGET 1.0990 1.1020 SL 1.0940
SELL
EUR/USD BELOW 1.0940 TARGET 1.0920 1.0890 SL 1.0970
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