TRADING
TIPS :
The euro to the lowest level in three
weeks against the dollar on Monday after data showing that euro zone
private sector activity slowed in February underlined expectations
for more easing by the European Central Bank.EUR/USD hit lows of
1.1056, the lowest level since February 3 and was last at 1.1065,
down 0.6% for the day. The Markit euro zone composite purchasing
managers’ index, which measures both the manufacturing and service
sectors, dropped to a 13-month low of 52.7 in February from January’s
53.6.Economists had forecast a reading of 53.3.Manufacturing output
showed the smallest increase since December 2014, moving closer to
stagnation amid a further faltering in growth of new orders and
exports.
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4220 TARGET 1.4240 1.4270 SL 1.4190
SELL
GBP USD BELOW 1.4170 TARGET 1.4150 1.4120 SL 1.4200
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1140 TARGET 1.1160 1.1190 SL 1.1110
SELL
EUR USD BELOW 1.1080 TARGET 1.1060 1.1030 SL 1.1110
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