TRADING TIPS :
EUR/USD was up 0.49% at 1.2468, up from a session low of 1.2362 and off a high of 1.2495.The pair was likely to find support at 1.2245, Monday’s low, and resistance at 1.2496, Thursday’s high.The dollar has rallied against the euro and other currencies in recent months on expectations for U.S. monetary policy to grow less accommodative while European and Asian central banks move in the opposite direction.On Friday, mixed U.S. data allowed for profit taking.Meanwhile in Europe, the single currency found support after data showed that industrial production in the euro zone rose 0.1% in October, in line with expectations, after a 0.5% increase in September, whose figure was revised from a previously estimated 0.6% gain.
INTRADAY OUTLOOK
Support: 1.2436
Resistance: 1.2484
RECOMMENDATION:
1. Buy EUR/USD Above 1.2486-TG:1.2506/1.2536 SL 1.2456
2. Sell EUR/USD Below 1.2434-TG:1.2414/1.2384 SL 1.2464
INTRADAY OUTLOOK
Immediate Support: 118.58
Immediate Resistance: 119.09
RECOMMENDATION:
1. Buy USD/JPY Above 119.11-TG:119.31/119.61 SL 118.81
2. Sell USD/JPY Below 118.56-TG:118.36/118.16 SL 118.86
Crude-oil futures were choppy in Asian trade Monday ahead this week’s data releases from China and the U.S. Federal Reserve meeting, as markets seek stronger cues on growth in two of the world’s largest economies.
