TRADING
TIPS :
The
dollar dropped against the yen and gained ground against the euro on
Friday, as ongoing uncertainty following the Brexit vote and
disappointing Chinese manufacturing activity data fuelled safe-haven
demand.EUR/USD fell 0.29% to 1.1073.Markets continued to recover from
Britain’s shock decision last week to leave the European
Union.Bank of England Governor, Mark Carney, indicated on Thursday
that more stimulus may be needed over the summer, sparking
expectations for an upcoming rate cut. Meanwhile, market sentiment
weakened after data showed that China’s Caixin manufacturing
purchasing managers’ index fell to 48.6 in June from 49.2 the
previous month, compared to expectations for a downtick to 49.1.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.3345 TGT 1.3365 1.3375 SL 1.3315
SELL
GBPUSD AROUND 1.3385-87 TGT 1.3365 1.3335 SL 1.3415
RECOMMENDATION:
BUY
EURUSD AROUND 1.1080 TGT 1.1100 1.1130 SL 1.1050
SELL
EURUSD BELOW 1.1070 TGT 1.1050 1.1020 SL 1.1100
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