TRADING
TIPS :
The euro rose against the dollar on
Tuesday, as market sentiment soured with European shares and oil
prices turning lower after earlier gains.Risk appetite faded after a
meeting between oil ministers from Saudi Arabia, Russia, Qatar and
Venezuela ended with consensus to freeze output, but not to cut
production. The U.S. dollar index, which measures the green-back’s
strength against a trade-weighted basket of six major currencies, was
down 0.26% to 96.50. The low yielding euro rose against the dollar,
with EUR/USD rising 0.23% to 1.1181. The euro’s gains were held in
check after European Central Bank President Mario Draghi said Monday
the bank would not hesitate to act in March, reinforcing expectations
for additional stimulus measures. Meanwhile, data on Tuesday showed
that German economic sentiment fell sharply this month, amid concerns
over falling oil prices, slowing global growth and heightened market
volatility
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4470 TARGET 1.4490 1.4520 SL 1.4440
SELL
GBP USD BELOW 1.4420 TARGET 1.4400 1.4380 SL 1.4450
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1230 TARGET 1.1250 1.1280 SL 1.1200
SELL
EUR USD BELOW 1.1180 TARGET 1.1160 1.1130 SL 1.1210
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