TRADING
TIPS :
The single currency has now come under
renewed selling pressure, dragging EUR/USD to the area of session
lows near 1.1380.Spot has given away recent gains and returned to
sub-1.1400 levels at the beginning of the week following a positive
start of equity markets in the Old Continent. Later in the day,
market participants will remain wary of the unexpected closed meeting
between Fed governors with fund rates on top of the agenda on an
otherwise empty calendar in both Euroland and the US. The pair is now
losing 0.11% at 1.1389 facing the next support at 1.1325 (low Apr.6)
ahead of 1.1305 (23.6% Fibo of 1.0820-1.1455) and finally 1.1151
(55-day sma). On the other hand, a break above 1.1454 (2016 high
Apr.7) would target 1.1496 (monthly high Oct.15 2015) en route to
1.1713 (high Aug.24 2015).
RECOMMENDATION:
BUY
GBP USD ABOVE 1.4227 TARGET 1.4147 1.4087 SL 1.4087
SELL
GBP USD BELOW 1.4140 TARGET 1.4120 1.4090 SL 1.4170
RECOMMENDATION:
BUY
EUR USD ABOVE 1.1396 TARGET 1.1416 1.1446 SL 1.1375
SELL
EUR USD BELOW 1.1375 TARGET 1.1355 1.1325 SL 1.1405
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