TRADING
TIPS :
The
euro slid to the day’s lows on Monday after data showing that
growth in the euro area’s private sector slowed to a 16-month low
in in May, despite solid growth in Germany and France, asother areas
struggled.EUR/USD was down 0.17% at 1.1203, re-approaching last
Thursday’s two month lows of 1.1179.The preliminary reading of the
euro zone composite purchasing managers’ index, which measures the
combined output of both the manufacturing and service sectors, ticked
down to a 16-month low of 52.9 from 53.0 in April.Economists had
expected the index to rise to 53.2.The rate of business activity
expansion in the dominant service sector was unchanged for a third
successive month. But the rate of manufacturing output growth was the
second-weakest since February 2015, the report said.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4548 TGT 1.4568 1.4598 SL 1.4518
SELL
GBP/USD BELOW 1.4461 TGT 1.4441 1.4411 SL 1.4491
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1242 TGT 1.1262 1.1292 SL 1.1212
SELL
EUR/USD BELOW 1.1201 TGT 1.1181 1.1151 SL 1.1231
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