TRADING
TIPS :
The shared currency keeps its recovery
mode intact against its American counterpart in late-Asia, taking
EUR/USD above 1.14 handle. EUR/USD trades modestly flat at fresh
session highs of 1.1411, making another attempt towards 1.15 handle.
The main currency is seen consolidating the downside as dust settles
over the NFP aftermath, with the major catching fresh bid tone in
recent dealings amid broad based US dollar retreat.The greenback
wiped-out gains against its major competitors and now trades muted,
underpinning the recovery in EUR/USD. Moreover, mixed market
sentiment amid higher oil prices and subdued Asian equities also
lifts the safe- haven bids for the EUR.Meanwhile, focus turns towards
the German factory orders data amid a data-dry trading calendar
today. Besides the Euro group meetings will be closely watched for
any news on EU referendum ahead of the US LMCI release.
RECOMMENDATION:
BUY
GBPUSD AROUND 1.4380 TARGET 1.4420 1.4480 SL 1.4350
SELL
GBPUSD AROUND 1.4510-1.4520 TARGET 1.4460 1.4400 SL 1.4540
RECOMMENDATION:
BUY
EURUSD AROUND 1.1430 TARGET 1.1450 1.1480 SL 1.1400
SELL
EURUSD AROUND 1.1370 TARGET 1.1340 1.1300 SL 1.1395
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