TRADING
TIPS :
The euro remained slightly lower
against the dollar on Tuesday after a report showing that German
economic sentiment deteriorated this month, knocked by recent turmoil
in global financial markets. EUR/USD was last at 1.0869, off 0.21%
for the day from around 1.0873 earlier. The ZEW institute said its
index of German economic sentiment fell from 16.1 in December to 10.2
in January, as slowing growth in China and other major world
economies dimmed the outlook for the euro area’s largest economy.
This was still higher than analysts forecast for a reading of 8.2.
The ZEW index of current conditions rose to 59.7 from 55.0 in
December, the highest level since September. A separate report
confirmed that the annual rate of inflation in the euro area came in
at 0.2% in December, in line with forecasts.On a month-over-month
basis consumer prices were flat.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4350 TARGET 1.4370 1.4400 SL 1.4320
SELL
GBP/USD BELOW 1.4280 TARGET 1.4260 1.4230 SL 1.4310
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0900 TARGET 1.0920 1.0950 SL 1.0870
SELL
EUR/USD BELOW 1.0860 TARGET 1.0840 1.0810 SL 1.0890
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