EUR/USD slipped 0.15% to 1.2399, not far from last Friday’s lows of 1.2356, the weakest since August 2012. The dollar slid in the previous two sessions after Friday’s softer than expected U.S. jobs report prompted a bout of profit taking to lock in gains after the greenbacks recent run higher. The dollar has rallied over the past two months as broadly stronger economic data fuelled expectations that the Federal Reserve will raise interest rates sometime in 2015.In contrast, central banks in Japan and the euro zone are likely to stick to a looser monetary policy stance in a bid to spur growth and inflation.The European Central Bank reiterated its pledge late last week to implement further stimulus measures if needed to combat persistently low levels of inflation in the euro area.
INTRADAY OUTLOOK
Support: 1.2387
Resistance: 1.2446
RECOMMENDATION:
1. Buy EUR/USD Above 1.2448-TG:1.2468/1.2498 SL 1.2418
2. Sell EUR/USD Below 1.2385-TG:1.2365/1.2335 SL 1.2415
INTRADAY OUTLOOK
Immediate Support: 115.53
Immediate Resistance: 116.08
RECOMMENDATION:
1. Buy USD/JPY Above 116.13-TG:116.33/116.63 SL 115.83
2. Sell USD/JPY Below 115.50-TG:115.30/115.00 SL 115.80
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