TRADING TIPS :
EUR/USD hit 1.2367 during European late morning trade, the pair’s highest since December 5; the pair subsequently consolidated at 1.2361, gaining 0.38%.Official data earlier showed that Germany’s trade surplus widened to €20.6 billion in October from €18.6 billion in September, whose figure was revised up from a previously estimated trade surplus of €18.5 billion. Analysts had expected the trade surplus to widen to €19.2 billion in October.The report came a day after data showed that German industrial production rose just 0.2% in October, while September’s figure was revised down to 1.1% from 1.4% previously.The data had fuelled concerns over the outlook for fourth quarter growth.
INTRADAY OUTLOOK
Support: 1.2318
Resistance: 1.2380
RECOMMENDATION:
1. Buy EUR/USD Above 1.2382-TG:1.2402/1.2432 SL 1.2352
2. Sell EUR/USD Below 1.2315-TG:1.2295/1.2265 SL 1.2345
INTRADAY OUTLOOK
Immediate Support: 119.66
Immediate Resistance: 120.22
RECOMMENDATION:
1. Buy USD/JPY Above 120.25-TG:120.45/120.75 SL 120.05
2. Sell USD/JPY Below 119.64-TG:119.44/119.14 SL 119.94
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