TRADING
TIPS :
EUR/USD has posted slight losses on
Tuesday, as the pair trades at the 112 line in the European session.
On the release front, German Ifo Business Climate improved to 106.7
points, beating expectations. German Manufacturing PMI remained
steady at 50.4 points, short of the estimate. Eurozone Manufacturing
PMI improved to 51.4 points, matching the forecast. In the US, there
are no major releases on the schedule.The Eurozone released a host of
indicators on Tuesday, including PMIs from the manufacturing and
services sectors. German Services PMI improved to 55.5 points,
pointing to strong expansion. However, Manufacturing PMI came in at
50.4 points, short of the forecast of 50.4 points. There was better
news from German Ifo Business Climate, which improved to 106.7
points, ahead of the estimate of 106.1 and marking a 3-month high.
Later in the day, we’ll get a look at Eurozone and German ZEW
Economic Sentiment.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4300TARGET 1.4320 1.4350 SL 1.4270
SELL
GBP/USD BELOW 1.4240 TARGET 1.4220 1.4190 SL 1.4270
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1200TARGET 1.1220 1.1250 SL 1.1170
SELL
EUR/USD BELOW 1.1170 TARGET 1.1150 1.1120 SL 1.1200
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