TRADING
TIPS :
EUR/USD has posted considerable gains
on Tuesday. In the European session, EUR/USD is trading at 1.1450. On
the release front, German CPI and WPI numbers beat expectations.
There are no major US releases on Tuesday. We’ll get a look at some
key US data on Wednesday, with the release of retail sales reports
and PPI.The Eurozone remains gripped by weak inflation levels, which
underscore the lack of growth in the economy. There was good news on
Tuesday, as German consumer inflation numbers beat expectations.
Final CPI impressed in March, with a strong of 0.8%, matching the
forecast. This marked the index’s strongest gain in 12 months.
German WPI broke a nasty streak of 7 declines, posting a gain of
0.3%, which also matched the forecast. We’ll get a look at Eurozone
CPI numbers on Thursday, and if these readings are above
expectations, the euro could gain ground.
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4321 TARGET 1.4341 1.4371 SL 1.4291
SELL
GBP USD BELOW 1.4280 TARGET 1.4260 1.4230 SL 1.4310
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1436 TARGET 1.1456 1.1486 SL 1.1416
SELL
EUR USD BELOW 1.1415 TARGET 1.1395 1.1365 SL 1.1445
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