TRADING
TIPS :
The EUR/USD pair has moved within
striking distance of moving back above 1.1500 handle, recovering from
day’s through level of 1.1476 ahead of the Euro-zone service PMI
data. The pair on Tuesday witnessed a sharp reversal from intraday
peak of 1.1616 and dropped back below 1.1500 level on broad USD
recovery from the lowest level since Jan. 2015. Investors also seem
to lighten their bearish USD positions ahead of the key jobs data
scheduled for release on Friday. Friday’s jobs report along with
today’s ISM non-manufacturing index would continue to probe some
additional volatility in the pair.Although the pair on Tuesday,
managed to break-through 1.1550 immediate resistance but the momentum
above 1.1600 faded, dragging the pair back below 1.1500 mark. Traders
would now be eyeing 1.1455-50 immediate support, which if broken
seems to extend Tuesday’s reve.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4525 TGT 1.4545 1.4575 SL 1.4495
SELL
GBPUSD AROUND 1.4515 TGT 1.4495 1.4465 SL 1.4545
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1510 TGT 1.1530 1.1560 SL 1.1480
SELL
EURUSD BELOW 1.1550 TGT 1.1530 1.1500 SL 1.1580
0 comments:
Post a Comment