TRADING
TIPS :
EUR/USD
has posted slight losses on Friday, following modest losses in the
Thursday session. The pair is slightly below the 1.11 level. On the
release front, German Trade Balance slipped in May but was within
expectations. Next up is French Industrial Production. Over in the
US, employment data will be in the spotlight with three key events,
highlighted by Nonfarm Employment Change. US employment numbers
looked sharp on Thursday. ADP Nonfarm Employment Change was almost
unchanged in June, with a reading of 172 thousand. This figure was
well above the forecast of 158 thousand. This was followed by a solid
unemployment claims release, as the indicator dropped to 254
thousand, marking an 11 week low. A strong release would confirm that
the labor market is improving and job creation is gaining steam.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.3055 TGT 1.3075 1.3105 SL 1.3025
SELL
GBPUSD BELOW 1.2935 TGT 1.2915 1.2885 SL 1.2905
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1070 TGT 1.1090 1.1110 SL 1.1040
SELL
EUR/USD BELOW 1.1045 TGT 1.1025 1.1005 SL 1.1075
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