TRADING
TIPS :
GBP/USD hit 1.5406 during European
morning trade, the pair’s highest since March 2; the pair
subsequently consolidated at 1.5387, gaining 0.32%.The pound rose to
nearly two-month highs against the U.S. dollar on Wednesday, as
demand for the greenback weakened ahead of U.S. data and the Federal
Reserve’s monthly policy statement due later in the day. Cable was
likely to find support at 1.5174, Tuesday’s low and resistance at
1.5460,the high of February 27. The greenback came under pressure
after the U.S. Conference Board said on Tuesday that its index of
consumer confidence fell to 95.2 this month from a reading of 101.4
in March.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5430 TARGET 1.5450 1.5480 SL 1.5400
SELL
GBPUSD BELOW 1.5424 TARGET 1.5404 1.5374 L 1.5454
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1115 TARGET 1.1135 1.1165 SL 1.1085
SELL
EURUSD BELOW 1.1102 TARGET 1.1082 1.1052 SL 1.1132
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