TRADING TIPS :
- Forex-Dollar broadly supported, hits fresh 6-year peak vs. yen .
- Forex- Forex – Pound up on expectation Scotland to stay part of United Kingdom .
- Forex-GBP/USD hits 2-1/2 week highs as Scotland rejects independence
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..
GBP/USD.hit 1.6525 during late Asian trade, the pair’s highest since September 2; the pair subsequently consolidated at 1.6449, gaining 0.32%Cable was likely to find support at 1.6327, the low of September 4 and 10- month low and resistance at 1.6615, the high of September 2. The pound strengthened as Scotland overwhelmingly rejected independence after a record turnout of voters delivered a clear victory for the No campaign on Thursday. The pound rose to two-and-a-half week highs against the U.S. dollar on Friday, as Scotland voted to remain in the U.K. after an independence referendum, while demand for the greenback still remained broadly supported. Uncertainty over what currency an independent Scotland would use, as well as concerns over how much of the U.K. national debt it would take on sparked a broad based selloff in sterling last week.
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