TRADING
TIPS :
The EUR/USD pair trades -0.34% lower at
fresh session lows of 1.0977, moving further away from 1.10 barrier.
Growing monetary policy divergence between the Fed and ECB, with the
former on track to raise rates this year and the ECB hinting last
month of further easing in Dec, continues to weigh on the EUR/USD
pair. Moreover, Monday’s better than expected US manufacturing PMI
reports further fueled rate hike bets for this year and keeps the
shorter-duration US treasury yields underpinned, thus boosting the
USD bulls. The 2-year treasury yields now rally over 1.14% to 0.762%.
Meanwhile the USD index rises 0.24% to 97.23. Later in the day,
markets eagerly await the US factory data and ECB Draghi’s speech
due for fresh insights on the EUR/USD pair. The EUR/USD pair finally
gave away the 1.10 handle and accelerated to the downside in the
mid-European trades, failing to benefit from weak European stocks
amid broad based US dollar rebound.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5420 TARGET 1.5440 1.5470 SL 1.5390
SELL
GBP/USD BELOW 1.5360 TARGET 1.5340 1.5310 SL 1.5390
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1040 TARGET 1.1060 1.1090 SL 1.1010
SELL
EUR/USD BELOW 1.0980 TARGET 1.0960 1.0930 SL 1.1010
0 comments:
Post a Comment