TRADING
TIPS :
The euro trimmed losses against the
U.S. dollar on Friday, but remained under pressure as upbeat U.S.
consumer sentiment data added to optimism over the strength of the
country’s economy and as Greek debt negotiations remained in focus.
EUR/USD eased off 1.1155, the session low, to hit 1.1194 during U.S.
morning trade, still down 0.09%. The pair was likely to find support
at 1.1133, the low of June 23 and resistance at 1.1295, the high of
June 15. The University of Michigan reported on Friday that its
consumer sentiment index rose to a five-month high of 96.1 this month
from 94.6 in May, exceeding expectations for an unchanged reading.
The UoM also reported that its inflation expectations for the next 12
months remained unchanged at 2.7% in June. Time is running out for
the Greek government to secure a deal to unlock bailout funds ahead
of the looming deadline for a €1.6 billion repayment to the
International Monetary Fund on June 30.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5820 TARGET 1.5840 1.5870 SL 1.5780
SELL
GBPUSD BELOW 1.5660 TARGET 1.5640 1.5610 SL 1.5700
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1240 TARGET 1.1260 1.1290 SL 1.1200
SELL
EURUSD BELOW 1.1125 TARGET 1.1105 1.1075 SL 1.1165
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