Trading Tips:The euro hit a four-month peak against the Swiss franc and a two-week high against a subdued dollar on Monday, after Germany’s Ifo survey for July beat forecasts and painted an upbeat picture of Europe’s largest economy. The dollar fell broadly, after a drop in U.S. shares and bond yields dimmed its allure, with markets focused on this week’s Federal Reserve policy meeting. It fell 0.4 percent against the safe-haven yen with an 8-percent drop in Chinese stocks affecting global risk sentiment, The euro rose 1.2 percent to $1.1113, from about $1.1084 before the Ifo survey was released. Against the Swiss franc, it rose to 1.0602, its highest since March 23. The Munich-based Ifo institute’s business climate index, based on a monthly survey of some 7,000 firms, rose to 108.0 from a revised 107.5 in June.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5630 TARGET 1.5650 1.5680 SL 1.5600
SELL GBP/USD BELOW 1.5595 TARGET 1.5575 1.5545 SL 1.5625
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