TRADING
TIPS :
The euro was trading close to
seven-and-a-half month lows against the dollar on Thursday as
investors waited to see whether the European Central Bank would
announce fresh monetary easing measures after its meeting later in
the day.EUR/USD was down 0.33% to 1.0577, not far from Wednesday’s
lows of 1.0549, the weakest level since April 14.The single currency
remained broadly weaker after data on Wednesday showing that the
annual rate of inflation in the euro area rose just 0.1% in November
added to pressure on the ECB to step up measures to shore up the
flagging recovery in the region. The ECB targets inflation of close
to, but just below 2%. The U.S. dollar index, which measures the
greenback’s strength against a trade-weighted basket of six major
currencies, rose to 100.28, holding just below the seven-and-a-half
month peaks of 100.54 set on Wednesday.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4950 TARGET 1.4970 1.5000 SL 1.4920
SELL
GBP/USD BELOW 1.0550 TARGET 1.0530 1.0500 SL 1.0580
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0590 TARGET 1.0610 1.0640 SL 1.0560
SELL
EUR/USD BELOW 1.0550 TARGET 1.0530 1.0500 SL 1.0580
0 comments:
Post a Comment