TRADING
TIPS :
The EUR/USD pair found fresh bids near
1.1125 region and now crawls higher towards daily highs, mainly
backed by broad based US dollar weakness. EUR/USD trades 0.13% higher
at 1.1141, heading for a retest of daily highs reached at 1.1150 in
late-Asia. The main currency pair was caught by a fresh bid wave
after the US dollar fell further into the red against its major peers
as the European traders continue to assess the dovish Fed minutes
heading into the ECB Jan meeting accounts release.Further, the bulls
continue its fight to take-out 1.1150 barrier, as the renewed
optimism in the European indices weigh on the safe-haven currency
EUR. Germany’s DAX erased losses and now rises 0.40%, while the
pan- European benchmark, the Euro Stoxx also regains momentum and
advances 0.60%.
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4330 TARGET 1.4350 1.4380 SL 1.4300
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 1.1120 TARGET 1.1000 1.1970 SL 1.1150
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