TRADING
TIPS :
The
euro remained lower against the dollar on Wednesday after data
showing that the euro area fell back into negative inflation this
month, adding to pressure on the European Central Bank to enlarge its
stimulus program. Eurostat , the statistical body of the European
Union, reported that the annual rate of inflation in the single
currency bloc fell by 0.1% this month, compared to forecasts for a
flat reading .It was the first time in six months that the region saw
declining inflation.EUR/USD was down 0.2% to 1.1226 from around
1.1220 ahead of the report. The decline in consumer prices was
largely due to lower oil prices Eurostat said, with energy prices
down 8.9% on a year-over-year basis.The shared currency has been hit
by speculation that the ECB could scale up its quantitative easing
program after it cut its forecasts for growth and inflation earlier
this month .The euro index, which measures the single currency’s
strength against a trade-weighted basket of currencies, was down
0.16% to 89.77.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5170 TARGET 1.5190 1.5220 SL 1.5140
SELL
GBP/USD BELOW 1.5130 TARGET 1.5110 1.5080 SL 1.5160
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1170 TARGET 1.1190 1.1220 SL 1.1140
SELL
EUR/USD BELOW 1.1140 TARGET 1.1120 1.1090 SL 1.1170
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