TRADING
TIPS :
EUR/USD is showing little movement on
Wednesday, following losses in the Tuesday session. The pair is
trading at 1.1060. On the release front, German Factory Orders
disappointed with a flat reading of 0.0%, shy of the estimate of
1.0%. The US will release ISM Non-Manufacturing PMI, with the
estimate standing at 53.3 points. The spotlight will be on the
central banks, as ECB President Mario Draghi addresses an ECB event
in Frankfurt, while the Federal Reserve will release the minutes of
its June policy meeting. On Thursday, employment numbers will be in
focus, with the release of ADP Nonfarm Employment Change and
Unemployment Claims.
RECOMMENDATION:
BUY
GBPUSD ABOVE 1.3000 TGT 1.3020 1.3050 SL 1.2970
SELL
GBPUSD AROUND 1.3196 TGT 1.3176 1.3146 SL 1.3226
RECOMMENDATION:
BUY
EURUSD AROUND 1.1080 TGT 1.1100 1.1130 SL 1.1050
SELL
EURUSD BELOW 1.1040 TGT 1.1010 1.0980 SL 1.1070
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