SGX IForex Recommendations

TRADING TIPS :

GBP/USD hit 1.5250 during European morning trade, the session high; the pair subsequently consolidated at 1.5223.In a report, the Office for National Statistics said U.K. manufacturing production rose 0.1% in December, compared to expectations for a 0.1% downtick. November’s figure was revised to a 0.8% increase from a previously estimated 0.7% rise. On an annualized basis, manufacturing production rose at rate of 2.4% in December, above expectations for a gain of 2.0%, after rising at a rate of 3.0% in the previous month. The report also showed that industrial production fell by 0.2% in December, compared to expectations for a 0.1% gain, after declining 0.1% in November.

INTRADAY OUTLOOK

Support: 1.5187

Resistance: 1.5257

RECOMMENDATION:

1. Buy GBP/USD Above 1.5259-TG: 1.5279/1.5309 SL 1.5229

2. Sell GBP/USD Below 1.5185-TG: 1.5165/1.5135 SL 1.5215

INTRADAY OUTLOOK

Immediate Support: 1.1275

Immediate Resistance: 1.1351

RECOMMENDATION:

1. Buy EUR/USD Above -1.1353 TG: 1.1373/1.1403 SL 1.1323

2. Sell EUR/USD Below -1.1273 TG:1.1253/1.1223 SL 1.1303