TRADING
TIPS :
The euro slipped lower on Tuesday as
investors remained wary ahead of a euro zone summit later in the day
aimed at restarting negotiations between Greece and its lenders.
EUR/USD was down 0.27% to 1.1026, but was holding above Monday’s
lows of 1.0968. Greek Prime Minister Alexis Tsipras was to present
new proposals to euro zone finance ministers later in the day, ahead
of a meeting of European officials to discuss the aftermath of
Sunday’s referendum in Greece. Greek banks were set to remain
closed on Tuesday after capital controls were extended until
Wednesday, amid concerns that lenders are close to running out of
cash. Bank have been shuttered since last Monday, with ATM
withdrawals limited to €60 per day. The European Central Bank
announced Monday that it would keep its emergency liquidity
assistance to Greece unchanged at levels announced last Monday. The
ECB also said it will adjust the haircuts on collateral accepted by
the Bank of Greece as part of the ELA, adding to pressure on Athens.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.5590 TARGET 1.5610 1.5640 SL 1.5560
SELL
GBPUSD BELOW 1.5420 TARGET 1.5390 1.5360 SL 1.5450
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1035 TARGET 1.1055 1.1085 SL 1.1005
SELL
EURUSD BELOW 1.0980 TARGET 1.0960 1.0930 SL 1.1010
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