TRADING
TIPS :
The dollar slid lower against the euro
on Tuesday, but remained broadly stronger against the commodity
linked currencies as the latest trade data out of China added to
fears over slowing growth. Data on Tuesday showing that Chinese
exports fell for the fifth consecutive month added to fears over a
slowdown in the world’s second-largest economy.Exports fell 6.8% on
a year-over-year basis in November as weak global demand continued to
weigh. Imports were also down, falling 8.7%.The U.S. dollar index,
which measures the greenback’s strength against a trade-weighted
basket of six major currencies, eased 0.18% to 98.55. Demand for the
dollar continued to be underpinned by expectations that the Federal
Reserve is on track to raise interest rates for the first time since
2006 at its upcoming meeting on December 15-16.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5040TARGET 1.5060 15090 SL 1.5010
SELL
GBP/USD BELOW 1.4990 TARGET 1.4970 1.4940 SL 1.5020
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0870 TARGET 1.0890 1.0920 SL 1.0840
SELL
EUR/USD BELOW 1.0830 TARGET 1.0810 1.0780 SL 1.0860
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