TRADING
TIPS :
EUR/USD
is unchanged on Friday, after the pair posted small gains in the
Thursday session.The pair is trading quietly slightly below the 1.12
line. On the release front, there are no Eurozone events on the
schedule. The US will release two key indicators – Preliminary GDP
and UoM Consumer Sentiment. As well, Fed chair Janet Yellen will
deliver remarks at an event in Boston. Traders should be prepared for
possible volatility from EUR/USD in the North American session.The US
economy has shown mixed numbers in the first quarter, and Preliminary
GDP, which can be treated viewed as an economic report card, will be
closely monitored. Final GDP for the fourth quarter came in at 0.5%,
shy of the estimate of 0.7%. The estimate for Preliminary GDP stands
at 0.8%, and if the indicator matches or beats this reading, the US
dollar could push upwards.
RECOMMENDATION:
UY
GBP/USD ABOVE 1.4688 TGT 1.4708 1.4738 SL 1.4658
SELL
GBP/USD BELOW 1.4640 TGT 1.4620 1.4590 SL 1.467
0
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1190TGT 1.1210 1.1240 SL 1.1160
SELL
EUR/USD AROUND 1.1140-1.1142 TGT 1.1162 1.1192 SL 1.1110
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