KLSE IForex Recommendations

TRADING TIPS :

GBP/USDeased 0.12% to 1.5342 from around 1.5358 ahead of the data,the services purchasing managers’ index ticked down to 56.7 from 57.2 in January. Economists had expected the index to rise to 57.5.On the index, a level above 50.0 indicates expansion in the industry, below 50.0 indicates contraction.“Although the rate of expansion slowed in the vast services economy, growth has picked up in both manufacturing and construction,” Chris Williamson, chief economist at survey compilers Markit said.”The three PMI surveys collectively indicated a slight acceleration in economic growth for a second successive month in February as a result, consistent with GDP growth picking up to 0.6% in the first quarter.”




INTRADAY OUTLOOK
Support: 1.5294
Resistance: 1.5364

RECOMMENDATION:
1. Buy GBP/USD Above 1.5366-TG: 1.5386/1.5416 SL 1.5336
2. Sell GBP/USD Below 1.5292-TG: 1.5272/1.5242 SL 1.5322

INTRADAY OUTLOOK
Support: 1.1096
Resistance: 1.1165

RECOMMENDATION:
1. Buy EUR/USD Above 1.1167-TG: 1.1187/1.1217 SL 1.1137
2. Sell EUR/USD Below 1.1094-TG: 1.1064/1.1034 SL 1.1124