EUR/USD hit 1.2885 during European morning trade, the session low; the pair subsequently consolidated at 1.2884, sliding 0.30%The pair was likely to find support at 1.2833, Thursday’s low and a 14-month low and resistance at 1.2981, the high of September 17 The euro edged lower against the U.S. dollar on Friday, re- approaching a 14-month trough as the Federal Reserve’s latest policy statement continued to support the greenback The single currency came under some pressure on Thursday after the European Central Bank said it allotted €82.6 billion to 255 bidders in its new Targeted Long Term Refinancing Operation, or TLTRO. That was well below the €100 to €150 billion predicted by analysts.
INTRADAY OUTLOOK
Support: 1.2834
Resistance: 1.2850
RECOMMENDATION:
1. Buy EUR/USD Above 1.2860-TG:1.2880/1.2905 SL 1.2830
2. Sell EUR/USD Below 1.2825-TG:1.2805/1.2780 SL 1.2831
INTRADAY OUTLOOK
Immediate Support:1.6295
Immediate Resistance:1.6308
RECOMMENDATION:
1. Buy GBP/USD Above 1.6310-TG:1.6330/1.6360 SL 1.6280
2. Sell GBP/USD Below 1.6293-TG:1.6273/1.6243 SL 1.6323
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