KLSE IForex Recommendations

TRADING TIPS :

EUR/USD slipped 0.18% to trade near two-year lows at 1.2264 even as data earlier showed that the Gfk German consumer climate index rose to a six-month high of 9.0 in December from a reading of 8.7 the previous month. Analysts had expected the index to tick up to 8.9 this month. The dollar enjoyed support after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending Dec 12 fell by 6,000 to 289,000 from the previous week’s revised total of 295,000. Economist had forecast an increase of 1,000.The data came a day after the Fed said it would be “patient” before raising rates, guidance which it said is consistent with earlier assurances statement that rates would stay low “for a considerable time.

INTRADAY OUTLOOK
Support: 1.2191
Resistance: 1.2241

RECOMMENDATION:
1. Buy EUR/USD Above 1.2143-TG:1.2263/1.2293 SL 1.2113
2. Sell EUR/USD Below 1.2189-TG:1.2169/1.2139 SL 1.2219

INTRADAY OUTLOOK
Immediate Support: 1.5584
Immediate Resistance: 1.5647

RECOMMENDATION:
1. Buy GBP/USD Above 1.5650-TG:1.5670/1.5700 SL 1.5620
2. Sell GBP/USD Below 1.5582-TG:1.5562/1.5532 SL 1.5612