TRADING
TIPS :
The EUR/USD dipped 26 points to trade
at 1.0867 after Chinese data sparked a bit of a run to safety but
avoided the pound ahead of the ECB meeting on Thursday. There was a
steady flow of data in the Eurozone today including inflation, PPI,
German ZEW data. Overall data met expectations but forecasts had been
downgraded and traders were hoping to see a bit better than expected
inflation data to help the ECB get away with no additional stimulus.
Meanwhile, EUR/USD rose 0.23% to trade at 1.0933. The U.S. dollar
index, which measures the greenback’s strength against a
trade-weighted basket of six major currencies, was down 0.16% at
99.00.Germany’s consumer price inflation reached its lowest level
since 2009, data from Destatis revealed Tuesday. Inflation eased to
0.3 percent in 2015 from 0.9 percent in 2014. The year-on-year rate
of price increase has been declining since 2011, Destatis said.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4180 TARGET 1.4200 1.4230 SL 1.4150
SELL
GBP/USD BELOW 1.4160 TARGET 1.4140 1.4110 SL 1.4190
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0950 TARGET 1.0970 1.1000 SL 1.0920
SELL
EUR/USD BELOW 1.0900 TARGET 1.0880 1.0850 SL 1.0930
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