TRADING
TIPS :
The EUR/USD pair is attempting an
extension of gains above 1.06 levels amid weak European stocks and on
the back of an uptick in the German PMI manufacturing index and drop
in German unemployment rate. The pair is trading well above its
hourly 100-MA located at 1.0596 levels. The shared currency was
sitting just above 1.06 handle ahead of the German and Eurozone PMI
reports mainly on account of the slight weakness in the European
equities. The gains were extended to a high of 1.0618 levels after
the German PMI in November revised higher to 52.9. Eurozone PMI came
in as expected at 52.8. The German unemployment rate dropped to a new
multiyear low of 6.3%. Ahead in the day, the pair could be influenced
by the US ISM manufacturing index and sentiment on the Wall Street.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5120 TARGET 1.5140 1.5170 SL 1.5090
SELL
GBP/USD BELOW 1.5060 TARGET 1.5040 1.5010 SL 1.5090
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0620 TARGET 1.0640 1.0670 SL 1.0590
SELL
EUR/USD BELOW 1.0580 TARGET 1.0560 1.0530 SL 1.0610
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