TRADING
TIPS :
EUR/USD extended recent gains to
briefly clear 1.14 for the first time in three weeks, as the European
Central Bank launched a comprehensive corporate bond buying program
on Wednesday. The currency pair traded in a tight range between
1.1355 and 1.1410, before settling at 1.1396, up 0.0039 or 0.33%.
With the slight gains, the euro posted its third straight win against
the dollar and fifth over the last seven sessions. Since dipping
below 1.11 in late-May, the euro has rallied by more than 2.3%
against its American counterpart over the last week. EUR/USD likely
gained support at 1.1055, the low from March 15 and was met with
resistance at 1.1616, the high from May 3.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4515 TGT 1.4535 1.4565 SL 1.4485
SELL
GBP/USD BELOW 1.4435 TGT 1.4405 1.4375 SL 1.4465
RECOMMENDATION:
BUY
EUR/USD AROUND 1.1218-1.1220 TGT 1.1240 1.1270 SL 1.1190
SELL
EUR/USD BELOW 1210 TGT 1190 1160 SL 1240
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