EUR/USDrose 0.26% to 1.2258, easing off two-year lows of 1.2222 hit overnight.Earlier Monday, official data showed that German import prices dropped 0.8% in November, compared to expectations for a 0.5% loss, after a 0.3% downtick in October.Meanwhile, the dollar continued to be underpinned after the Federal Reserve said last week that 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.”The central bank also acknowledged the impr- vement in the U.S. labor market and noted that the economy is making progress toward its goals in inflation and employment. Trading volumes were expected to remain light on Monday, ahead of the Christmas Day Holiday.
Support: 1.2243
Resistance: 1.2298
RECOMMENDATION:
1. Buy EUR/USD Above 1.2300-TG:1.2320/1.2350 SL 1.2270
2. Sell EUR/USD Below 1.2240-TG:1.2220/1.2190 SL 1.2270
INTRADAY OUTLOOK
Immediate Support: 1.5597
Immediate Resistance: 1.5662
RECOMMENDATION:
1. Buy GBP/USD Above 1.5665-TG:1.5685/1.5715 SL 1.5635
2. Sell GBP/USD Below 1.5595-TG:1.5575/1.5545 SL 1.5625
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