TRADING
TIPS :
EURUSD formed a spinning bottom
yesterday seeking support at 1.10 with the price action seeing a
bullish follow through in early Asian trading today. The gains came
after markets started pricing a Fed rate cut this year following the
Brexit verdict. The Fed funds futures rate is now surprisingly
pricing in a 17% rate cut by September, increasing from 7% on Friday.
From a technical perspective, the euro has managed to establish
support near 1.10 – 1.0985 support level and in the interim, price
action remains caught above this support and below 1.1143 – 1.115
resistance levels.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.3480 TGT 1.3500 1.3530 SL 1.3450
SELL
GBPUSD BELOW 1.3220 TGT 1.3200 1.3170 SL 1.3250
RECOMMENDATION:
BUY
EURUSD ABOVE 1.1110 TGT 1.1130 1.1160 SL 1.1080
SELL
EURUSD BELOW 1.1045 TGT 1.1025 1.0995 SL 1.1075
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