TRADING
TIPS :
The euro moved lower against the dollar
and the other major currencies on Wednesday after weak euro zone
inflation data added to pressure on the European Central Bank to step
up stimulus measures. EUR/USD was down 0.45% to 1.0585,
re-approaching Monday’s seven-month trough of 1.0552, from around
1.0622 ahead of the data.Eurostat said the annual rate of inflation
in the euro zone rose just 0.1% in November, below forecasts of 0.2%
and unchanged from the previous month.Core inflation, which excludes
energy, food and tobacco, rose just 0.9%, slowing from 1.1% in
October, indicating that inflationary pressures in the region are
weakening. The U.S. dollar index, which measures the greenback’s
strength against a trade-weighted basket of six major currencies,
rose 0.26% to 100.14, not far from Monday’s highs of 100.36, the
most since mid-April.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5070 TARGET 1.5090 1.5120 SL 1.5040
SELL
GBP/USD BELOW 1.5030 TARGET 1.5010 1.4980 SL 1.5060
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0640 TARGET 1.0660 1.0690 SL 1.0610
SELL
EUR/USD BELOW 1.0580 TARGET 1.0560 1.0530 SL 1.0610
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