TRADING
TIPS :
The New Zealand dollar slid lower
against its U.S. counterpart on Tuesday, hovering close to a recent
six-year trough as risk-aversion continued to dominate market
sentiment amid global growth worries.NZD/USD hit 0.6290 during late
Asian trade, the pair’s lowest since September 24; the pair
subsequently consolidated at 0.6302, sliding 0.44%. The pair was
likely to find support at 0.6233, the low of September 23 and
resistance at 0.6406, Monday’s high.Market sentiment was hit after
International Monetary Fund head Christine Lagarde said in an
interview on Monday that the IMF is likely to revise downwards its
estimates for global economic growth due to slower expansion in
emerging economies.The U.S. dollar was also boosted by data on Monday
showing that U.S. personal spending rose 0.4% in August, beating
expectations for an increase of 0.3%. The kiwi was higher against the
Australian dollar, with AUD/NZD shedding 0.21% to 1.1020.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5170 TARGET 1.15190 1.5220 SL 1.5140
SELL
GBP/USD BELOW 1.5140 TARGET 1.15120 1.5090 SL 1.5170
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1270 TARGET 1.1290 1.1320 SL 1.1240
SELL
EUR/USD BELOW 1.1240 TARGET 1.1220 1.1190 SL 1.1270
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