TRADING
TIPS :
The dollar was broadly lower against
the eur on Monday, as concerns over growth in China and geo-
political tensions in the Middle East boosted investor demand for the
safe-haven yen and Swiss franc. EUR/USD gained 0.40% to 1.0898.Data
earlier showed that China’s Caixin manufacturing purchasing
managers’ index fell to 48.2 this month from 48.6 in December,
confounding expectations for a rise to 48.9.It was the lowest reading
since September and was well below the 50-point level which separates
expansion from contraction. The downbeat data added to concerns over
slowdown in the world’s second biggest economy. The U.S. dollar
index, which measures the greenback’s strength against a
trade-weighted basket of six major currencies, was down 0.39% at
98.39.The index ended 2015 with gains of 8.96% bolstered by the
diverging monetary policy stance between the Federal Reserve and
other world central banks, particularly the European Central Bank and
the Bank of Japan.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4790 TARGET 1.4810 1.4840 SL 1.4760
SELL
GBP/USD BELOW 1.4740 TARGET 1.4720 1.4690 SL 1.4770
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.0970 TARGET 1.0990 1.1020 SL 1.0940
SELL
EUR/USD BELOW 1.0920 TARGET 1.0900 1.0870 SL 1.0950
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