8Apr
forex-market-hours

IForex Market Trading Signals and News – 08 April 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar edges lower on Fed meeting minutes
  • Forex -Aussie, kiwi rise vs. greenback on Fed meeting minutes
  • Forex- Yen gains sharply as Kuroda remarks on economic outlook

EUR/USD
The euro pared back the day’s gains against the dollar on Thursday after senior European Central Bank officials reiterated that they are prepared to inject more stimulus if necessary. EUR/USD slid 0.18% to 1.1381, off the five-and-a-half month highs of 1.1454 set overnight. The euro was at one-month lows against the broadly stronger yen, with EUR/JPY dropping 1.46% to 123.28. The ECB’s chief economist, Peter Praet, said the bank was prepared to do more if the euro zone economy was hit by fresh shocks.“If further adverse shocks were to materialize, our measures could be recalibrated once more commensurate with the strength of the headwind,” he said.The comments were echoed by ECB Vice-President Vito Constancio who said in a speech to the European Parliament that the bank will continue to do whatever it takes to pursue its price stability objective.

GBP/USD
GBPUSD: With the pair continuing to decline, more weakness is envisaged towards its key support located at 1.4052 level. On the downside, support lies at the 1.4000 level where a break will turn attention to the 1.3950 level. Further down, support lies at the 1.3900 level. Below here will set the stage for more weakness towards the 1.3850 level. Conversely, resistance stands at the 1.4150 levels with a turn above here allowing more strength to build up towards the 1.4200 level. Further out, resistance resides at the 1.4250 level followed by the 1.4300 level. On the whole, GBPUSD remains biased to the downside on more weakness.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4090TARGET 1.4060 1.4000 SL 1.4120
  • SELL GBP/USD BELOW 1.4015 TARGET 1.3995 1.3965 SL 1.4045

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

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Your email address will not be published.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.