TRADING
TIPS :
The shared currency is trading on a
firmer footing vs. the dollar on Thursday, with EUR/USD trading well
beyond the 1.1300 handle. The pair has surrendered the earlier spike
to the 1.1360 area against the backdrop of persistent risk-off
sentiment, fuelled at the same time by the negative performance of
European equity markets.Ahead in the session there are no scheduled
releases in Euroland while Initial Claims and another testimony by
Chairwoman J.Yellen will grab all the attention across the pond
later. The pair is now advancing 0.24% at 1.1321 with the next hurdle
at 1.1460 (monthly high Sep.18) ahead of 1.1496 (monthly high Oct.15)
and finally 1.1713 (post- PBoC high Aug.24). On the other hand, a
breakdown of 1.1055 (200-day sma) would open the door to 1.1002
(20-day sma) and finally 1.0963 (100-day sma).
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4470 TARGET 1.4490 1.4520 SL 1.4440
SELL
GBPUSD BELOW 1.4395 TARGET 1.4375 1.4345 SL 1.4425
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1355 TAGRET 1.1377 1.1407 SL 1.1322
SELL
EURUSD BELOW 1.1310 TARGET 1.1290 1.1260 SL 1.1340
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