TRADING
TIPS :
The EUR/USD pair ended the week right
above the 1.1000 level, and the dominant bearish trend remains in
place, given that the daily chart shows that selling interest surged
on an approach to the 200 DMA, whilst the Momentum indicator
maintains a strong bearish, despite being in oversold territory. In
the same chart, the RSI indicator has managed to bounce from oversold
levels, but remains well into negative territory, leaving room for
additional declines. In the 4 hours chart, the pair is struggling
around a bearish 20 SMA, whilst the technical indicators have failed
to advance above their mid-lines, but lack enough bearish strength to
confirm a bearish movement ahead. The EUR enjoyed of some temporal
demand, rising against its American rival up to 1.1072, before
selling interest re-surged
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5520 TARGET 1.5540 1.5470 SL 1.5490
SELL
GBP/USD BELOW 1.5480 TARGET 1.5260 1.5230 SL 1.5510
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1050 TARGET 1.1070 1.1100 SL 1.1020
SELL
EUR/USD BELOW 1.1000 TARGET 1.0980 1.0950 SL 1.1030
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