TRADING
TIPS :
The European currency keeps its daily
gains vs. the dollar today, with EUR/USD hovering over the 1.1020/25
band so far.The sentiment remains unaltered around the single
currency on Tuesday after EMU’s GDP figures showed the economy has
expanded 0.3% interquarter during Q4 and 1.6% on an annualized basis,
surpassing prior surveys at 1.5%. Ahead in the session, the NFIB’s
index is only due in the US calendar followed by the weekly report on
crude stockpiles by the API.In the meantime, spot is managing quite
well to keep the trade above the 1.1000 handle, although the recent
upside will be put to the test later in the week in light of the ECB
meeting and prospects of additional stimulus in the region.
RECOMMENDATION:
BUY
GBP/USD ABOVE 1.4284 TARGET 1.4304 1.4334 SL 1.4254
SELL
GBP/USD BELOW 1.4218 TAGET 1.4198 1.4168 SL 1.4248
RECOMMENDATION:
BUY
EUR/USD ABOVE 1.1044 TAGET 1.1064 1.1094 SL 1.1014
SELL
EUR/USD BELOW 1.1002 TAGET 1.0982 1.952 SL 1.1032
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