TRADING
TIPS :
The pair currently trades around the
hourly 200-MA at 1.0921 levels. The positive action in the stock
markets has once again led to the weakness in the EUR. The common
currency advanced for the last three consecutive days on the back of
the minor jitters seen in the European and US financial markets.Later
in the day, a batch of US data – durable goods orders, personal
spending and personal income could influence the pair. A break below
1.0890 (38.2% of 1.1495-1.0517), would expose the support at 1.0803
(Dec 17 low). On the other hand, a break above 1.0940 (61.8% of
Mar-Aug rally) would open doors for a retest of 1.1006 (50% of
1.1495-1.0517).
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4920 TARGET 1.4940 1.4970 SL 1.4880
SELL
GBP/USD BELOW 1.4870 TARGET 1.4850 1.4820 SL 1.4900
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0950 TARGET 1.0970 1.1000 SL 1.0920
SELL
EUR/USD BELOW 1.0920 TARGET 1.0900 1.0870 SL 1.0950
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