TRADING
TIPS :
The euro hit a four-month peak against
the Swiss franc and a two-week high against a subdued dollar on
Monday, after Germany’s Ifo survey for July beat forecasts and
painted an upbeat picture of Europe’s largest economy. The dollar
fell broadly, after a drop in U.S. shares and bond yields dimmed its
allure, with markets focused on this week’s Federal Reserve policy
meeting. It fell 0.4 percent against the safe-haven yen with an
8-percent drop in Chinese stocks affecting global risk sentiment, The
euro rose 1.2 percent to $1.1113, from about $1.1084 before the Ifo
survey was released. Against the Swiss franc, it rose to 1.0602, its
highest since March 23. The Munich-based Ifo institute’s business
climate index, based on a monthly survey of some 7,000 firms, rose to
108.0 from a revised 107.5 in June.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5630 TARGET 1.5650 1.5680 SL 1.5600
SELL
GBPUSD BELOW 1.5595 TARGET 1.5575 1.5545 SL 1.5625
RECOMMENDATION:
BUY EURUSD ABOVE
1.1105 TARGET 1.1125 1.1155 SL 1.1075
SELL EURUSD BELOW
1.1050 TARGET 1.1030 1.1000 SL 1.1080
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