TRADING
TIPS :
The dollar trades generally higher
across the board this Monday, with the EUR/USD pair trading at its
lowest since last Thursday. Further improvement in the US labor
market, as reported last Friday, keeps the FED in the path towards a
rate hike later this month. The dollar advanced during the Asian
session, and accelerates its advance in the European morning, as
local share markets open higher. In the macro calendar, Germany
released its industrial production figures for October, which was up
by 0.2% from the previous month decrease of 1.1%, but below market’s
expectations of a 0.7% advance. Later today, the US will release its
November labor market conditions and the consumer credit figures for
October, which may help the greenback in advancing further.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.5090 TARGET 1.6110 1.6140 SL 1.5060
SELL
GBP/USD BELOW 1.5040 TARGET 1.5020 1.4990 SL 1.5060
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0850 TARGET 1.0870 1.0900 SL 1.0820
SELL
EUR/USD BELOW 1.0800 TARGET 1.0780 1.0750 SL 1.0830
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