TRADING TIPS :
EUR/USD was down 0.19% at 1.2438.The Federal Reserve reported earlier that industrial production rose by 1.3% in November, beating expectations for a gain of 0.7%.Industrial production for October was revised up to 0.1% from a previously reported decline of 0.1%.The report added that the capacity utilization rate, a measure of how full firms are using their resources, rose to 80.1% last month from an upwardly revised 79.3% in October, beating market calls for an unchanged reading.The data boosted demand for the dollar on expectations that the Federal Reserve will tighten monetary policy next year.The Federal Reserve is due to release its latest statement on interest rates and monetary policy on Wednesday, and expectations the statement will contain language describing a more robust U.S. economy firmed the dollar, which shrugged off a soft regional factory gauge.
INTRADAY OUTLOOK
Support: 1.2410
Resistance: 1.2468
RECOMMENDATION:
1. Buy EUR/USD Above 1.2470-TG:1.2490/1.2520 SL 1.2440
2. Sell EUR/USD Below 1.2408-TG:1.2388/1.2358 SL 1.2438
INTRADAY OUTLOOK
Immediate Support: 117.43
Immediate Resistance: 118.00
RECOMMENDATION:
1. Buy USD/JPY Above 118.02-TG:118.22/118.52 SL 117.72
2. Sell USD/JPY Below 117.45-TG:117.65/117.95 SL 117.15
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