TRADING
TIPS :
The euro is steady on Tuesday, after
sustaining sharp losses on Monday. EUR/USD is trading at the 1.10
line in the European session. On the release front, Germany will
release Ifo Business Climate, a key event. The markets are expecting
a strong reading of 107.0 points. In the US, there are two key
releases – Existing Home Sales and CB Consumer Confidence. The
markets will be looking for a strong reading from German Business
Climate, after some disappointing releases from the Eurozone’s
largest economy. German PPI, which measure inflation in the
manufacturing sector, looked dismal in January, with a decline of
0.7%. This was shy of the estimate of -0.3%. So it comes as no
surprise that German Flash Manufacturing PMI also missed
expectations, with a reading of 50.2 points, barely above the
50-line, which separates contraction and expansion.
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4140 TARGET 1.4160 1.4190 SL 1.4110
SELL
GBP USD BELOW 1.4100 TARGET 1.4080 1.4050 SL 1.4130
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1040 TARGET 1.1060 1.1090 SL 1.1010
SELL
EUR USD BELOW 1.0970 TARGET 1.0950 1.0920 SL 1.1000
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