TRADING
TIPS :
EUR/USD
inched up in cautious trade, as yields on German bunds sunk to an
all-time record low while foreign exchange traders continued to react
to nebulous comments from Janet Yellen on the possibility of a summer
rate hike from the Federal Reserve.The currency pair traded between
1.1339 and 1.1380, before settling at 1.1357, up 0.02% on the
session. EUR/USD has traded in a tight range in each of the last
three sessions since surging nearly 2% last Friday after
disappointing U.S. employment data increased the possibility that the
Fed could take a June interest rate hike off the table. With the
recent rally, the euro has nearly erased all of its losses from May's
swoon when it fell from 9-month highs versus its American
counterpart.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 1.4580 TGT 1.4600 1.4630 SL 1.4550
SELL
GBP/USD BELOW 1.4500 TGT 1.4480 1.4450 SL 1.4530
RECOMMENDATION:
BUY
EURUSD AROUND 1.1327-1330 TGT 1.1350 1.1380 SL 1.1300
SELL
EUR/USD AROUND 1.1410-1.1408 TGT 1.1390 1.1360 SL 1.1440
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