TRADING
TIPS :
The dollar held steady against the euro
on Wednesday, as upbeat U.S. data released the day before continued
to support but trading volumes remained thin ahead of the New Year
holiday. Heading into the final week of the year, trading volumes are
expected to remain light as many traders already closed books,
reducing liquidity in the market which could result in exaggerated
moves. EUR/USD was steady at 1.0930.The dollar strengthened after the
Conference Board reported on Tuesday that its consumer confidence
index rose to 96.5 in December from 92.6 in November, whose figure
was revised from a previously estimated 90.4.The U.S. dollar index,
which measures the greenback’s strength against a trade-weighted
basket of six major currencies, was steady at 98.27.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4840 TARGET 1.4860 1.4890 SL 1.4810
SELL
GBP/USD BELOW 1.4780 TARGET 1.4760 1.4730 SL 1.4810
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0950 TARGET 1.0970 1.1000 SL 1.0920
SELL
EUR/USD BELOW 1.0900 TARGET 1.0880 1.0850 SL 1.0930
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