TRADING
TIPS :
The EUR/USD pair trades 0.20% higher at
fresh session highs of 1.0819, heading gradually towards hourly
50-SMA at 1.0841. The main currency extends its consolidative mode
into early Europe and hovers near session tops, gathering pace for
further upside towards 1.0850 region. With the Asian equities paring
gains, the risk-on moods appear to have waned a bit and hence, lift
the demand for the funding currency euro. Moreover, the gains in the
EUR/USD pair can be also partly attributed to a broadly lower USD as
well as to the extension of the post-ECB correction. Last week,
Attention now remains on the German IFO surveys to provide fresh
incentives on the EUR moves, while ECB Chief Draghi’s speech due
later in the NY session will be closely eyed.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4310 TARGET 1.4330 1.4360 SL 1.4280
SELL
GBPUSD BELOW 1.4235 TARGET 1.4215 1.4185 SL 1.4265
RECOMMENDATION:
BUY
EUR USD ABOVE 1.0837 TARGET 1.0857 1.0890 SL 1.0800
SELL
EUR USD BELOW 1.0800 TARGTE 1.0770 1.0735 SL 1.0830
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