KLSE IForex Recommendations

TRADING TIPS :

EUR/USD was down 0.22% to 1.2478, off session highs of 1.2522. The euro was slightly lower against the dollar on Thursday after data showed that the annual rate of inflation in Germany slowed to almost a five year low this month, fuelling concerns over the risk of deflation in the euro area.Germany’s consumer price index rose just 0.6% this month, data on Thursday showed, down from 0.8% in October. On a month-over-month basis, prices were flat. Investors were looking ahead to preliminary data on euro zone inflation due to be released on Friday. The annual rate of inflation in the euro zone fell to 0.4% in October, well below the ECB’s target of close to but just under 2%.

INTRADAY OUTLOOK
Support: 1.2437
Resistance: 1.2492

RECOMMENDATION:
1. Buy EUR/USD Above 1.2495-TG:1.2515/1.2545 SL 1.2465
2. Sell EUR/USD Below 1.2430-TG:1.2410/1.2380 SL 1.2460

INTRADAY OUTLOOK
Immediate Support: 117.95
Immediate Resistance: 118.65

RECOMMENDATION:
1. Buy USD/JPY Above 118.67-TG:118.87/119.13 SL 118.37
2. Sell USD/JPY Below 117.92-TG:117.72/117.42 SL 118.28