TRADING
TIPS :
The euro held steady near two-month
lows against the U.S. dollar on Monday, as investors still remained
cautious after the conclusion of a third bailout deal for Greece last
week. EUR/USD hit 1.0820 during late Asian trade, the pair’s lowest
since May 17; the pair subsequently consolidated at 1.0838. The pair
was likely to find support at 1.0817 and resistance at 1.0908,
Friday’s high. Greek banks were set to reopen on Monday after a
forced 3-week closure but restrictions on cash withdrawals were still
to remain. In a decree Saturday, the Greek government kept the daily
cash withdrawal limit at €60 but added a weekly limit of €420.
The decree came on the same day as Greece’s coalition government
swore in its new, reshuffled cabinet.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5565 TARGET 1.5585 1.5615 SL 1.5535
SELL
GBPUSD BELOW 1.5545 TARGET 1.5525 1.5495 SL 1.5575
RECOMMENDATION:
BUY
EURUSD ABOVE 1.0835 TARGET 1.0855 1.0885 SL 1.0805
SELL
EURUSD BELOW 1.0815 TARGET 1.0795 1.0765 SL 1.0845
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