TRADING TIPS :
EUR/USD was down 0.52% at 1.2319, up from a session low of 1.2302 and off a high of 1.2391.The pair was likely to find support at 1.2293, the low from Aug. 20, 2012, and resistance at 1.2507. The euro weakened to two-year lows against an advancing dollar on Wednesday after a widely-watched gauge of the U.S. service sector beat expectations and fueled sentiments that recovery continues to gain momentum.Analysts had expected the index to inch up to 57.5 in November, and the better-than-expected report kept expectations firm that the Federal Reserve will move to hike interest rates next year.The overall weak data added to pressure on the European Central Bank.
INTRADAY OUTLOOK
Support: 1.2304
Resistance: 1.2354
RECOMMENDATION:
1. Buy EUR/USD Above 1.2356-TG:1.2376/1.2403 SL 1.2326
2. Sell EUR/USD Below 1.2300-TG:1.2280/1.2250 SL 1.2330
INTRADAY OUTLOOK
Immediate Support: 119.62
Immediate Resistance: 120.12
RECOMMENDATION:
1. Buy USD/JPY Above 120.15-TG:120.35/120.65 SL 119.85
2. Sell USD/JPY Below 119.60-TG:119.40/119.10 SL 119.90
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