TRADING
TIPS :
The EUR bears loosened the grip over
the last hour, allowing a minor-recovery in the EUR/USD pair from
near 1.1110 region heading into the Euro zone industrial output
release. EUR/USD trades -0.20% lower at 1.1130, climbing back above
5-DMA placed at 1.1125. The main currency pair moves-off lows,
although struggles to recover ground as the European stocks join the
global risk-on rally and brought back renewed optimism into markets,
dampening the safe-haven appeal for the euro. Germany’s DAX jumps
+1.83%, the UK’s FTSE gains +0.60%, while the pan-European
benchmark, the Euro Stoxx 50 shoots +1.20% so far this session.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4380 TARGET 1.4400 1.4430 SL 1.4350
SELL
GBP/USD BELOW 1.4330 TAGET 1.4310 1.4280 SL 1.4360
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1150TARGET 1.1170 1.1200 SL 1.1120
SELL
EUR/USD BELOW 1.1100 TARGET 1.1080 1.1050 L 1.1130
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