17Nov
forex-trading3

IForex Market Trading Signals and News – 17 November 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX -Euro falls to 6-month lows after Paris attacks
  • FOREX -NZD/USD almost unchanged in late trade
  • FOREX -Aussie slips lower vs. broadly stronger greenback

EUR/USD
The EUR/USD pair trades -0.46% lower at 1.0724, easing-off fresh session highs reached at 1.0759. The main currency pair bought back the opening dip, although failed to extend further and slipped back below the daily R1 placed at 1.0734 levels as markets favour the US dollar amid looming uncertainties surrounding the Euro zone following the weekend’s terror acts on Paris.Moreover, the European indices are attempting recovery from steep losses seen at open, which further reduces the demand for the euro as a safe-haven. The German benchmark, the DAX turned positive and trades 0.10% higher, while the UK’s FTSE gains 0.41% and the Euro Stoxx 50 advances 0.20%. Markets now await the Euro zone final CPI data due later shortly for fresh incentives while the main event for this week remains the FOMC minutes.

GBP/USD
The GBP/USD pair trades -0.21% lower at 1.5205, recovering from session lows struck at 1.5182. The cable keeps losses this session as the greenback remained broadly higher, mainly benefiting from renewed sell-off in EUR/USD. The major halted its downslide near Friday’s lows and recovered slightly on improved risk-sentiment as the European stocks switched to gains ahead of the Euro zone final CPI data.However, any recovery in the GBP/USD pair appears short-lived as the overall bearish sentiment persists ahead of the key inflation report from the UK and the US due to be released tomorrow. The pair has an immediate resistance at 1.5263/66 (20-DMA/ Nov 13 high), above which 1.5292/1.5300 (50-DMA/ round number) would be tested. On the flip side, support is seen at 1.5185/82 (Nov 13 low/ Daily low) below which it could extend losses to 1.5150 (psychological levels).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5235 TARGET 1.5265 1.5300 SL 1.5200
  • SELL GBP/USD BELOW 1.5185 TARGET 1.5155 1.5100 SL 1.5220

For more information about Forex Signals and Market Updates, please visit EPIC RESEARCH SINGAPORE.

Share this Story

About epicsingapore

Leave a Reply

Your email address will not be published. Required fields are marked *

*

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.