TRADING TIPS :
EUR/USDwas up 0.31% at 1.2429, up from a session low of 1.2363 and off a high of 1.2443. The pair was likely to find support at 1.2503, last Thursday’s low, and resistance at 1.2600, last Wednesday’s high. The euro firmed against the dollar on Monday after an upbeat German business climate report surpassed expectations and offset ongoing expectations for the European Central Bank to loosen policy in the near future.The single currency found support after a report showed that German business sentiment improved this month after six successive months of declines, indicating that the downturn the euro area’s largest economy may be ending.
INTRADAY OUTLOOK
Support: 1.2397
Resistance: 1.2443
RECOMMENDATION:
1. Buy EUR/USD Above 1.2445-TG:1.2464/1.2495 SL 1.2415
2. Sell EUR/USD Below 1.2395-TG:1.2375/1.2345 SL 1.2425
INTRADAY OUTLOOK
Immediate Support: 117.72
Immediate Resistance: 118.34
RECOMMENDATION:
1. Buy USD/JPY Above 118.36-TG:118.56/118.86 SL 118.06
2. Sell USD/JPY Below 117.70-TG:117.50/117.20 SL 118.00
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