TRADING
TIPS :
The Euro to dollar exchange rate
managed to gain strength recently and traded higher, but EUR/USD is
currently facing a major resistance.The US Dollar buyers did not like
the fed outcome and that is the reason why there was a minor decline
in the greenback. The Euro climbed higher and broke the 200 simple
moving average on the 4-hours chart.Earlier today, the German
Unemployment Change report was released by the German Statistics
Office. The forecast was slated for no change in April 2016, but as
per the report, the German Unemployment Change came in at -16K. The
report added that “According to provisional results of the
employment accounts, the number of persons in employment increased by
150,000, or 0.3%, from February to March 2016, one of the reasons
being the spring upturn. The increase on February was higher than the
relevant average of the past five years (124,000 people)”.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4638 TARGET 1.4658 1.4688 SL BELOW 1.4608
SELL
GBPUSD BELOW 1.4544 TARGET 1.4524 1.4494 SL ABOVE 1.4574
RECOMMENDATION:
BUY
EURUSD ABOVE 1.137 TARGET 1.139 1.142 SL BELOW 1.4608
SELL
EURUSD BELOW 1.134 TARGET 1.132 1.129 SL ABOVE 1.137
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