TRADING
TIPS :
The euro dropped to one-month lows
against the U.S. dollar on Friday, as strong U.S. economic reports
lent broad support to the greenback.EUR/USD hit 1.0944 during U.S.
morning trade, the pair’s lowest since February 3; the pair
subsequently consolidated at 1.0958, declining 0.54%.The pair was
likely to find support at 1.0901, the low of February 3 and
resistance at 1.1137, the high of February 22.Preliminary data showed
that U.S. gross domestic product grew 1.0% in the fourth quarter,
compared to a previously reported 0.7% growth rate and expectations
for a 0.4% rate.Data also showed that personal spending rose 0.5% in
January, beating expectations for a 0.3% gain, after an increase of
0.1% in December.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.3880 TARGET 1.4000 1.4040 SL 1.3840
SELL
GBP/USD BELOW 1.3830 TARGET 1.3810 1.3760 SL 1.3860
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0990 TARGET 1.1020 1.1060 SL 1.0950
SELL
EUR/USD BELOW 1.0920 TARGET 1.0900 1.0860 SL 1.0960
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