EUR/USD touched session lows of 1.2623 and was last down 0.07% to 1.2660.The single currency remained under pressure after data on Tuesday showing a steep decline in German factory orders in August added to concerns that the euro area’s largest economy being pulled into a recession.The weak data added to expectations that the European Central Bank will implement fresh stimulus measures to help bolster growth.The IMF said Tuesday that Europe was experiencing a “multispeed recovery” and revised down its growth forecasts for the euro zone’s three largest economies, Germany, France and Italy.
INTRADAY OUTLOOK
Support:1.2625
Resistance: 1.2690
RECOMMENDATION:
1. Buy EUR/USD Above 1.2692-TG:1.2712/1.2742 SL 1.2662
2. Sell EUR/USD Below 1.2627-TG:1.2607/1.2587 SL 1.2657
INTRADAY OUTLOOK
Immediate Support:108.16
Immediate Resistance: 108.53
RECOMMENDATION:
1. Buy USD/JPY Above 108.55-TG:108.75/109.05 SL 108.25
2. Sell USD/JPY Below 108.14-TG:107.94/107.64 SL 108.44
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