Trading Tips:The euro rose against the dollar and the yen on Friday amid renewed hopes for a deal on a bailout for Greece that would prevent a possible exit from the single currency bloc. Hopes for a breakthrough on a new bailout deal for Greece were boosted after the government put forward new proposals on budget cuts and economic reforms ahead of a meeting of the euro group of finance ministers on Saturday. EUR/USD was up 1.1% to 1.1148 late Friday after rising to a one-week peak of 1.1215 earlier in the session. The single currency pared back gains after Federal Reserve Chair Janet Yellen said the central bank was on track to raise interest rates at some point this year. She added that she felt an initial rate hike will have a small impact and reiterated that rates would rise only gradually. EUR/JPY jumped 2.33% to 136.94 in late trade. The dollar also gained ground against the yen, with USD/JPY advancing 1.18% to 122.67, recovering from the one-and-a-half month lows of 120.40 set on Wednesday. The yen had strengthened broadly earlier in the week as the deteriorating situation
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5590 TARGET 1.5610 1.5640 SL 1.5560
SELL GBP/USD BELOW 1.5368 TARGET 1.5348 1.5218 SL 1.5398
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