TRADING
TIPS :
EUR/USD managed to pause losses and
stabilized near 15-week lows over the last hours as investors focus
shifts to Friday’s US employment report.EUR/USD came under renewed
pressure on Wednesday as the greenback strengthened on the back of
supportive US data and comments from Fed Chair Yellen, which fueled
bets of a possible rate hike in December. EUR/USD hit a low of
1.0843, last seen July 21, and has spent the last hours consolidating
at the bottom of the range. At time of writing, the pair is trading
at 1.0855, recording a 0.96% loss on Wednesday. EUR/USD slid 0.75% to
1.0860, after rising to one-month highs of 1.0982 on Thursday. The
U.S. dollar index, which measures the greenback’s strength against
a trade-weighted basket of six major currencies, was down 1.50% at
98.55, off Wednesday’s eight-month peak of 100.54.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5150 TARGET 1.5170 1.5220 SL 1.5110
SELL
GBP/USD BELOW 1.5080 TARGET 1.5060 1.5020 SL 1.5120
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0910 TARGET 1.0940 1.0980 SL 1.0870
SELL
EUR/USD BELOW 1.0840 TARGET 1.0810 1.0760 SL 1.0890
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