17Mar
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IForex Market Trading Signals and News – 17 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar rises vs. rivals ahead of U.S. data, Fed
  • Forex -Dollar pushes higher ahead of Fed meeting
  • Forex-Aussie slips lower, kiwi holds steady ahead of Fed statement

EUR/USD
The EUR to USD pair continues to drift lower, yet it still retains the majority of the gains registered following the ECB meeting from last week.Momentum indicators in a number of time frames are therefore still pointing higher and advocating for more gains.On the fundamental front guidance will be provided by the US Federal Reserve’s policy meeting due on Wednesday. With many arguing the ECB is at the limit of its abilities movement in EUR/USD could now be in the hands of US decision makers.Nevertheless, the charts reflect the technical structure of the markets and therefore hold real-life implications for future direction in the exchange rate. That is why we sound out the latest views of the leading technical analysts with the view of decoding where the most likely steps in the EUR to USD will be.As always views are mixed, but these views allow the reader to take on board different opinions and arrive at independent opinions.

GBP/USD
The pound was at two-week lows against the dollar on Wednesday after as investors awaited the U.K. annual budget later in the day, but losses were held in check after the latest employment report showed a pick-up in wage growth.GB/USD was down 0.36% at 1.4100 from around 1.4124 ahead of the release of the jobs data.The Office for National Statistics reported that Britain’s unemployment rate remained steady at a 10-year low of 5.1%, in line with forecasts. The claimant count, which measures the number of people receiving unemployment benefits, fell by 18,000 in February to 717,000.Wage growth picked up slightly, with earnings, including bonuses, up 2.1% from a year earlier in the three months to January from 1.9% in the three months to December.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4150 TARGET 1.4170 1.4200 SL 1.4120
  • SELL GBP/USD BELOW 1.4080 TAGET 1.4060 1.4030 SL 1.4110

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

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