TRADING
TIPS :
The euro slumped in early Asia on
Monday as investors braced for volatile trade on the dramatic
collapse of negotiations between Greece and its creditors that led to
a freeze on banking services and a surprise interest rate cut from
the People’s Bank of China at the weekend. Greece’s banks and
stock exchange are expected to remain closed throughout the week
following a recommendation from the country’s Financial Stability
Council late Sunday, according to reports. The move came just hours
after the European Central Bank froze Emergency Liquidity Assistance
(ELA) support to the country’s banks at levels agreed on June 26 –
a figure estimated to be around €90 billion.”The Governing
Council is closely monitoring the situation in financial markets and
the potential implications for the monetary policy stance and for the
balance of risks to price stability in the euro area,” the ECB said
in a statement. “The Governing Council is determined to use all the
instruments available within its mandate.”
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5770 TARGET 1.5790 1.5820 SL 1.5740
SELL
GBPUSD BELOW 1.5660 TARGET 1.5640 1.5610 SL 1.5690
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1235 TARGET 1.1255 1.1285 SL 1.1205
SELL
EURUSD BELOW 1.1130 TARGET 1.1110 1.1080 SL 1.1160
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