TRADING
TIPS :
The euro was lower
against the U.S. dollar on Friday, after the release of mixed
economic reports from the euro zone, while the greenback regained
some strength ahead of a fourth-quarter U.S. growth report due later
in the day. EUR/USD hit 1.0883 during European morning trade, the
session low; the pair subsequently consolidated at 1.0908, sliding
0.30%.The pair was likely to find support at 1.0816, the low of
January 26 and resistance at 1.0987, the high of January
15.Preliminary data on Friday showed that the annual rate of
inflation in the euro zone rose by 0.4% this month, in line with
expectations and after an uptick of 0.2% in December.At the
conclusion of its monetary policy meeting on Friday, the BOJ said it
was adopting a negative interest rate of minus 0.1% and added that it
will cut interest rates further into negative territory if
necessary.The central bank’s decision came as it struggles to reach
its 2% inflation goal amid ongoing concerns over global economic
growth and declining oil prices.
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 1.0860 TARGET 1.0880 1.0920 SL 1.0820
SELL
EUR/USD BELOW 1.0800 TARGET 1.0780 1.0740 SL 1.0840
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