TRADING
TIPS :
The euro was lower against the dollar
on Monday after Friday’s strong U.S. employment report for December
and the yen gave up overnight gains, but investors remained wary amid
ongoing turmoil in Chinese financial markets. EUR/USD slid 0.31% to
1.0892, still holding above Friday’s lows of 1.0801.The U.S. dollar
index, which measures the green- back’s strength against a
trade-weighted basket of six major currencies, was up 0.19% to 98.64.
The unemployment rate held steady at a seven-and-a-half year low of
5% in December. The report bolstered expectations that the Federal
Reserve could raise interest rates at a faster pace this year. Higher
U.S. interest rates would make the dollar more attractive to
yield-seeking investors.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4570 TARGET 1.4590 1.4620 SL 1.4540
SELL
GBP/USD BELOW 1.4530 TARGET 1.4510 1.4480 SL 1.4560
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0920 TARGET 1.0940 1.0970 SL 1.0890
SELL
EUR/USD BELOW 1.0860 TARGET 1.0840 1.08010 SL 1.0890
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