TRADING
TIPS :
EUR/USD is showing marginal movement on
Wednesday, following gains which marked the pair in the Tuesday
session. The pair is trading at 1.1360 in the European session. On
the release front, German PPI posted a small gain of 0.2%, missing
the estimate. ECB head Mario Draghi will deliver a speech in
Frankfurt. Later in the day, the US releases Existing Home Sales as
well as Crude Oil Inventories. Thursday will be busy, highlighted by
the ECB rate decision. The US releases the Philly Fed Manufacturing
Index and Unemployment Claims, both key indicators.Is inflation
showing signs of life in the Eurozone? Weak inflation levels have
underscored soft economic growth in the bloc, and the threat of
deflation remains a constant worry for policymakers. However, there
have been some encouraging signs on the inflation front.
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4420 TARGET 1.4440 1.4470 SL 1.4380
SELL
GBP USD BELOW 1.4385 TARGET 1.4365 1.4335 SL 1.4415
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1380 TARGET 1.1400 1.1430 SL 1.1350
SELL
EUR USD BELOW 1.1360 TARGET 1.1340 1.1310 SL 1.1390
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