TRADING
TIPS :
The dollar moved lower against the euro
on Tuesday, The low yielding euro rose 0.33% against the dollar to
1.0896. Investors also remained concerned over the extent of the
economic slowdown in China, following a steep selloff in Chinese
stocks and a renewed devaluation in the yuan since the start of the
year.Shares in China closed higher on Tuesday, after Beijing stepped
up measures to support the yuan. China’s central bank guided the
yuan higher for a third day, but uncertainty over Beijing’s
currency policy persisted. EUR/USD was little changed at 1.0850.The
U.S. dollar index, which measures the greenback’s strength against
a trade-weighted basket of six major currencies, was up 0.08% at
99.00.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4530 TARGET 1.4550 1.4580 SL 1.4500
SELL
GBP/USD BELOW 1.4480 TARGET 1.4460 1.4430 SL 1.4510
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0870 TARGET 1.0890 1.0920 SL 1.0840
SELL
EUR/USD BELOW 1.0820 TARGET 1.0800 1.0770 SL 1.0850
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