TRADING
TIPS :
EUR/USD fell sharply, erasing all of
its gains from the previous session, as both Mario Draghi and George
Soros voiced concern about the state of the euro area economy, as
well as global economic conditions overall. The currency pair traded
in a tight range between 1.1305 and 1.1416, before settling at
1.1318, down 0.69% on the session. Over a volatile last month of
trading, the euro is still up by nearly 1% against the dollar.
Despite Thursday’s considerable losses, the euro has still settled
above 1.13 at the close of U.S. markets in six straight
sessions.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
GBPUSD ABOVE 1.4460 TGT 1.4480 1.4510 SL 1.4430
SELL
GBPUSD AROUND 1.4555-1.4552 TGT 1.4535 1.4505 SL 1.4585
RECOMMENDATION:
BUY
EURUSD AROUND 1.300 TGT 1.1320 1.1350 SL 1.1270
SELL
EURUSD BELOW 1.1280 TGT 1.1260 1.1230 SL 1.1310
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