TRADING
TIPS :
EUR/USD is currently trading with a
bullish bias. Yesterday, the pair broke above the descending channel,
headed long and even tested the resistance level 1.1438. During this
intraday, we still expect further movements to the upper side but
should not go above 1.14770, A clear breakout above 1.1477 will push
the price further to the upper side. This view can only be
invalidated in case the price clearly rebounds from 1.1438. This pair
should be traded alongside EUR/GBP, GBP/USD, and NZD/USD. These pairs
have a strong positive correlation of up to +0.96 and will likely
have a similar price action during this intraday.As long as the level
1.1438 protects the upper side, look for possible short positions
from 1.1438 with your target at 1.1396. A clear breakout above 1.1438
will call for long positions with a target at 1.1477. A clear a
breakout above 1.1477 will call for further long positions with an
ideal target at 1.14391.
RECOMMENDATION:
BUY
GBPUSD AROUND 1.4425 TARGET 1.4445 1.4475 SL 1.4395
SELL
GBPUSD AROUND 1.4488-1.4490 TARGET 1.4466 1.4436 SL 1.4518
RECOMMENDATION:
BUY
EURUSD AROUND 1.1370 TARGET 1.1390 1.1420 SL 1.1340
SELL
EURUSD AROUND 1.1447-1445 TARGET 1.1427 1.1397 SL 1.1477
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