18Jun
forex-market-hours

IForex Market Trading Signals and News of 18th June 2014

TRADING TIPS :

  • Forex – Euro at session lows vs. dollar after U.S. inflation data
  • Forex – Dollar higher vs. yen, euro after U.S. data
  • Forex – U.S. dollar rises to session highs against Canadian dollar

EUR/USD
EUR/USD was down 0.24% to 1.3540, holding above the four month trough of 1.3502 struck earlier this month. The pair was likely to find support at 1.3500 and resistance at 1.3586, the session high. The Labor Department said U.S. consumer prices rose at an annual rate of 2.1% last month, while prices were up 0.4% from a month earlier. It was the fastest increase in annual inflation since October 2008.

USD/JPY
USD/JPY was up 0.28% to 101.12 from 101.82 late Monday. The pair was likely to find support at 101.59, the low of June 12 and resistance at 102.40. The Labor Department reported that U.S. consumer prices rose at an annual rate of 2.1% last month, while prices were up 0.4% from a month earlier.

USD/CAD
USD/CAD was up 0.24% to 1.0870, from 1.0843 late Monday. The pair was likely to find support at 1.0834, Monday’s low and a two-week low and resistance at 1.0905. The Labor Department said U.S. consumer prices rose at an annual rate of 2.1% last month, while prices were up 0.4% from a month earlier

RECOMMENDATION :

1. Buy GBP/USD Above 1.7010- TG: 1.7040/ 1.7070 SL 1.6980
2. Sell GBP/USD Below 1.6930- TG: 1.6900/ 1.6870 SL 1.6960

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