TRADING
TIPS :
The EUR/USD pair trades -0.13% lower at
1.0867, now testing session lows struck at 1.0863 pre-European open.
The main currency pair failed to surpass 1.0885-90 barrier on yet
another occasion and met fresh supply thereon, now heading towards
Wednesday’s lows.Stabilizing European stocks and fresh rally seen
in the US dollar led to the sudden decline in the EUR/USD pair in
last hours. As we get closer to the US labour market report, the bid
tone on the USD is expected to keep growing bigger, with markets
anticipating stronger jobs data (above 180k exp.) to confirm a Dec
Fed rate hike. The pair remains below 1.09 handle with the next
hurdle in sight at 1.0921 (5-DMA) from there to 1.0958/67 (10-DMA/
Nov 4 High). While to the downside, the immediate support is seen at
1.0842/32 (Nov 4 & 5 low). Selling pressure will intensify below
the last, dragging the pair towards 1.0805/00 (daily S2/
psychological levels).
RECOMMENDATION:
BUY
GBP USD ABOVE 1.5055 TARGET 1.5075 1.5105 SL 1.5025
SELL
GBP USD BELOW 1.5025 TARGET 1.5005 1.4975 SL 1.5055
RECOMMENDATION:
BUY
EUR USD ABOVE 1.0755 TARGET 1.0775 1.0805 SL 1.0725
SELL
EUR USD BELOW 1.0725 TARGET 1.0705 1.0675 SL 1.0755
0 comments:
Post a Comment