TRADING
TIPS :
Offered at 1.1173 (23.6% of
1.0517-1.1376)in Europe, the EUR/USD pair is now trading around
1.1160 and threatening to drop into losses ahead of US data release.
US Personal spending and income growth is seen slowing in February.
Upward revision of the US Q4 GDP released on Friday was largely due
to personal consumption; hence USD bulls may feel demoralized if
spending figure for February slows more than expected. Post personal
spending release, investors would shift their focus to goods trade
balance, new home sales and Dallas Fed manufacturing index. Action in
oil prices and the resulting impact on the equities could also
influence the demand for the funding currency EUR.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4182 TARGET 1.4202 1.4232 SL BELOW 1.4152
SELL
GBPUSD BELOW 1.4157 TARGET 1.4137 1.4107 SL ABOVE 1.4187
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1187 TARGET 1.1207 1.1237 SL BELOW 1.1157
SELL
EURUSD BELOW 1.1146 TARGET 1.1126 1.1096 SL ABOVE 1.1176
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