TRADING
TIPS :
The euro rose against the U.S. dollar
on Friday, after a the release of downbeat U.S. economic reports
sparked fresh concerns over the strength of the economy, dampening
demand for the greenback. EUR/USD hit 1.1296 during U.S. morning
trade, the pair’s highest since Wednesday; the pair subsequently
consolidated at 1.1310, gaining 0.41%. The pair was likely to find
support at 1.1233, Thursday’s low and a two-and -a-half week low
and resistance at 1.1390, Wednesday’s high.In a preliminary report,
the University of Michigan said its consumer sentiment index fell to
a seven-month low of 89.7 in April from 91.0 the previous month.
Analysts had expecte the index to rise to 92.0 this month.
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4190 TARGET 1.4210 1.4240 SL 1.4160
SELL
GBP USD BELOW 1.4140 TARGET 1.4120 1.4090 SL 1.4170
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1275 TARGET 1.1295 1.1325 SL 1.1245
SELL
EUR USD BELOW 1.1245 TARGET 1.1240 1.1234 SL 1.1275
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