TRADING
TIPS :
EUR/USD is unchanged on Thursday,
following sharp losses in the Wednesday session. The pair is trading
at 1.1210 in the European session. On the release front, the ECB will
release the minutes of its April policy meeting. In the US, there are
two key releases. Philly Fed Manufacturing Index is expected to climb
3.2 points, while the forecast for Unemployment Claims is 276
thousand. The Federal Reserve minutes hinted that a June hike remains
on the table, and EUR/USD responded with sharp losses of about 100
points. According to the minutes, the Fed wants to see stronger
growth in Q2 as well as better numbers from the inflation and
employment fronts. If this is achieved, the Fed said it “likely
would be appropriate” to raise rates at the June meeting.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4700 TGT 1.4720 1.4750 SL 1.4670
SELL
GBP/USD AROUND 1.4696-1.4693 TGT 1.4673 1.4643 SL 1.4726
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1250 TGT 1.1270 1.1300 SL 1.1220
SELL
EUR/USD BELOW 1.1205 TGT 1.1185 1.1155 SL 1.123
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