TRADING
TIPS :
EUR/USD is currently trading with a
bullish bias. Following the break above the pivot level 1.1178, Euro
appears to have developed a bullish trend. We anticipate a breakout
above 1.1380 for us to continue long with our ideal target at 1.1492.
Alternatively, we wait for minor pullbacks towards 1.1291 for us to
execute buy orders. This view can only be invalidated should the
anticipated pullback go below 1.1267. If the latter is the case, then
we will be looking for short positions with our target at 1.09935.
This pair should be alongside GBP/JPY, and GBP/USD. These pairs have
a strong positive correlation of up to +0.89 and will likely move in
a similar direction. Only buy or sell Euro if pound dollar is giving
the same signal.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4540 TARGET 1.4560 1.4590 SL 1.4510
SELL
GBP/USD BELOW 1.4450 TARGET 1.4430 1.4380 SL 1.4480
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1320 TARGET 1.13401.1380 SL 1.1280
SELL
EUR/USD BELOW 1.1260 TARGET 1.1240 1.1200 SL 1.1300
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