TRADING
TIPS :
EUR/USD surged to near one-month highs,
as a wave of soft U.S. economic data potentially increased the
probability that the Federal Reserve could delay its next interest
rate hike beyond the first quarter of 2016. The currency pair traded
in a broad range between 1.0855 and 1.0984 before settling at 1.0916,
up 0.0051 or 0.47% on the session. The euro ended the week virtually
flat against the dollar, down 0.15%. After tumbling approximately 10%
against the dollar in 2015, the euro is up approximately 0.5% against
its American counterpart over the first two weeks of the new year.
The euro last eclipsed 1.10 versus the dollar on December 16. EUR/USD
likely gained support at 1.0538, the low from December 3 and was met
with resistance at 1.1352, the high from Oct. 22.The U.S. Dollar
Index, which measures the strength of the greenback versus a basket
of six other major currencies, lost more than 0.40% to an intraday
low of 98.42, before closing at 98.99. The index remains near
12-month highs from December, when it eclipsed 100.00.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4270 TARGET 1.4290 1.4330 SL 1.4230
SELL
GBP/USD BELOW 1.4200 TARGET 1.4180 1.4140 SL 1.4240
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0920 TARGET 1.0940 1.0980 SL 1.0880
SELL
EUR/USD BELOW 1.0860 TARGET 1.0840 10800 SL 1.0900
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