TRADING
TIPS :
EUR/USD hit 1.2763 during late Asian
trade, the pair’s lowest since July 2013; the pair subsequently
consolidated at 1.2757, slipping 0.18%.The pair was likely to find
support at 1.2754 and resistance at 1.2864, Wednesday’s high. The
euro came under pressure after European Central Bank President Mario
Draghi said on Wednesday that the bank will keep its monetary policy
“accommodative” for as long as needed, and will use every tool at
its disposal to fight deflation.Demand for the dollar found further
support after a report showed that U.S. new home sales data rose
18.0% last month to 504,000 units, the highest level since May
2008.The pound had strengthened earlier in the week as investor focus
returned to the outlook for U.K. monetary policy in the wake of last
week’s Scottish independence referendum.
INTRADAY OUTLOOK
Support: 1.2675
Resistance: 1.2750
RECOMMENDATION:
1. Buy EUR/USD Above 1.2752-TG:1.2772/1.2802 SL 1.2722
2. Sell EUR/USD Below 1.2673-TG:1.2653/1.2623 SL 1.2703
INTRADAY OUTLOOK
Immediate Support:1.6259
Immediate Resistance:1.6326
RECOMMENDATION:
1. Buy GBP/USD Above 1.6328-TG:1.6348/1.6378 SL 1.6298
2. Sell GBP/USD Below 1.6257-TG:1.6237/1.6207 SL 1.6288
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