TRADING
TIPS :
The shared currency has quickly
reverted the advance to the 1.1180 area vs. the dollar, with EUR/USD
now dropping to session lows near 1.1120.The greenback has now
gathering further pace and testing daily highs when measured by the
US Dollar Index, rapidly sending spot lower and forcing the euro to
fade the earlier spike to the boundaries of 1.1200 the figure.In the
meantime, the current slump of crude oil prices continue to weigh on
sentiment, exacerbated by a negative performance of European
equities.On the data front, Investor’s Confidence tracked by the
Sentix index has missed expectations for the current month, while the
Fed’s Labor Market Conditions Index is due later in the NA session.
The pair is now retreating 0.20% at 1.1127 and a breach of 1.1054
(200-day sma) would open the door to 1.0959 (100-day sma) and finally
1.0888 (55-day sma). On the flip side, the next up barrier lines up
at 1.1246 (high Feb.5) ahead of 1.1496 (high Oct.15) and finally
1.1713 (post- PBoC high Aug.24).
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4470 TARGET 1.4490 1.4520 SL 1.4445
SELL
GBPUSD BELOW 1.4390 TARGET 1.4370 1.4345 SL 1.4415
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1170 TAGRET 1.1190 1.1220 SL 1.1145
SELL
EUR USD BELOW 1.1107 TARGET 1.1087 1.1070 SL 1.1130
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