TRADING
TIPS :
EUR/USD trades dead flat at 1.1294,
fighting hard to break through 1.1300 levels. The main currency pair
is seen consolidating the upside in the Asian trades, having
witnessed a 120-pips massive rally on Tuesday following the dovish
comments from Fed Chair Yellen. The major jolted higher in the
previous session and climbed to fresh weekly highs at 1.1303 as the
US dollar was heavily offered after Yellen sounded concerned over the
global economic developments and hence, turned cautious with regard
to the monetary policy path. Markets now gear up for fresh macro data
from Germany as well as the US, which are expected to have major
impact on the EUR/USD pair. We have the German Prelim CPI figures and
ADP employment report from the US on the cards this Wednesday.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.4450 TARGET 1.4470 1.4500 SL BELOW 1.442
SELL
GBPUSD BELOW 1.4368 TARGET 1.4348 1.4318 SL ABOVE 1.4398
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1345 TARGET 1.1365 1.1395 SL BELOW 1.1315
SELL
EURUSD BELOW 1.1305 TARGET 1.1285 1.1255 SL ABOVE 1.1335
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