TRADING
TIPS :
The shared currency stayed put after
EMU’s CPI today, with EUR/USD clinging to its daily gains around
1.1015/10 band.The pair has faded the overnight spike to daily peaks
near 1.1040, giving away gains towards the 1.1000 handle as sentiment
remains slightly biased towards the risk appetite. Collaborating with
the upbeat sentiment, European equity markets are extending their
gains after a positive open.Spot has practically ignored the final
inflation figures in the euro area, with headline CPI rising 0.3% on
a year to January and Core CPI up 1.0% YoY.The pair is now up 0.02%
at 1.1010 with the next hurdle at 1.1048 (200-day sma) followed by
1.1112 (20-day sma) and finally 1.1220 (23.6% Fibo of December
up-move). On the other hand, a break below 1.0974 (55-day sma) would
expose 1.0955 (low Feb.24) and finally 1.0867 (76.4% Fibo of December
up-move).
RECOMMENDATION:
BUY
GBP USD ABOVE 1.3940 TARGET 1.3960 1.3990 SL 1.3910
SELL
GBP USD BELOW 1.3880 TARGET 1.3860 1.3830 SL 1.3910
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1050 TARGET 1.1070 1.1100 SL 1.1020
SELL
EUR USD BELOW 1.0970 TARGET 1.0950 1.0920 SL 1.1000
0 comments:
Post a Comment