TRADING
TIPS :
The shared currency has recovered the
smile so far on Wednesday, pushing EUR/USD to test fresh daily tops
near 1.1170. The pair is posting gains for the first time since
Friday, finding quite decent support around the 1.1100 neighbourhood
in a context where risk aversion and risk appetite keeps alternating
the dominance. Absent releases in Euroland, traders’ attention will
shift to the US docket, where Housing Starts, Building Permits,
Producer Prices, Industrial Production and Capacity Utilization are
all due later ahead of the more relevant FOMC minutes. The pair is
now advancing 0.18% at 1.1163 facing the next hurdle at 1.1220 (23.6%
Fibo of December up-move) followed by 1.1378 (high Feb.11) and then
1.1460. On the flip side, a breakdown of 1.1059 (200-day sma) would
target 1.0965 (61.8% Fibo of December up-move) and finally 1.0709
(YTD low Jan.5).
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4340 TARGET 1.4360 1.4390 SL 1.4310
SELL
GBP USD BELOW 1.4270 TARGET 1.4250 1.4220 SL 1.4300
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1150 TARGET 1.1170 1.1200 SL 1.1120
SELL
EUR USD BELOW 1.1100 TARGET 1.1080 1.1050 SL 1.1130
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