TRADING
TIPS :
EUR/USD rose considerably on Wednesday
after the Federal Reserve held short-term interest rates steady and
lowered its rate path outlook for each of the next two years. The
currency pair traded in a broad range between 1.1190 and 1.1299
before settling at 1.1264 at the close of U.S. afternoon trading, up
0.0043 or 0.50% on the session. With the sharp gains, the euro closed
above 1.11 versus the dollar for the ninth consecutive session. More
broadly, the euro is relatively flat against its American counterpart
over the last month, down 0.39% during that span. 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 AROUND 1.4090 TGT 1.4110 1.4140 SL 1.4060
SELL
GBPUSD AROUND 1.4300-1.4298 TGT 1.4280 1.4250 SL 1.4330
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1244 TGT 1.1264 1.1294 SL 1.1204
SELL
EURUSD BELOW 1.1215 TGT 1.1195 1.1165 SL 1.1245
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