TRADING
TIPS :
EUR/USD fell mildly on Thursday to
close lower for a fifth consecutive session, amid soft durable goods
orders in the U.S. and further indications that the Federal Reserve
could increase the pace of its first tightening cycle in nearly a
decade. The currency pair traded in a tight range between 1.1146 and
1.1187, before closing at 1.1175, down 0.04% on the session. Since
surging to five-month highs last week, the euro has fallen more than
1.25% against the dollar. At session-lows, the euro dropped to its
lowest level since the Fed rattled currency markets worldwide last
week by unexpectedly reducing its interest rate forecast for the next
three years. More broadly, the euro is down by roughly 1% over the
last six weeks. EUR/USD likely gained support at 1.0538, the low from
December 3 and was met with resistance at 1.1496, the high from Oct.
15.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4180 TARGET 1.4200 1.4230 SL 1.4140
SELL
GBP/USD BELOW 1.4100 TARGET 1.4080 1.4040 SL 1.4130
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1200 TARGET 1.1220 1.1250 SL 1.1170
SELL
EUR/USD BELOW 1.1140 TARGET 1.1120 1.1070 SL 1.1180
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