TRADING
TIPS :
The euro and the yen dipped against the
dollar on Wednesday ahead of the Federal Reserve’s rate statement
later in the day, which it was hoped would contain clues on the
timing of an initial rate hike. Investors were waiting to see if Fed
policymakers will give any indication on the timing or pace of future
interest rate increases. Fed Chair Janet Yellen has said the central
bank could raise rates as soon as September if the economy continues
to improve as expected. The U.S. was to release figures on second
quarter growth on Thursday, which were expected to show that the
economy rebounded following a contraction in the first quarter after
an unusually harsh winter. The Conference Board, a market research
group, said its index of consumer confidence fell to 90.9 this month
from a downwardly revised 99.8 in June. Economists had forecast a
reading of 100.0.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5620 TARGET 1.5640 1.5670 SL 1.5590
SELL
GBPUSD BELOW 1.5590 TARGET 1.5570 1.5540 SL 1.5620
RECOMMENDATION:
BUY EURUSD ABOVE
1.1105 TARGET 1.1125 1.1155 SL 1.1075
SELL EURUSD BELOW
1.0960 TARGET 1.0940 1.0910 SL 1.0990
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