26Apr
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IForex Market Trading Signals and News – 26 April 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Dollar lower ahead of Fed meeting, sterling reverses gains
  • Forex – Aussie holds steady, kiwi edges higher vs. greenback
  • Forex- Yen recovers, data shows outright swing against dollar

EUR/USD
EUR/USD rose modestly on Monday, halting a four-day losing streak, as currency traders continued to await the start of the Federal Open Market Committee’s two-day April meeting. The currency pair traded between 1.1263 and 1.1274 before settling at 1.1267, up 0.0036 or 0.31% on the session. Over the last month, the euro is relatively flat against the dollar, up by approximately 0.85%. More broadly, the euro has surged roughly 3% versus its American counterpart since the start of the year.EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15.

GBP/USD
GBP/USD stabilized after rallying rallying earlier from 1.4400 to 1.4520. It reached the strongest level in two months and then pulled back modestly. During the last hours, it has been trading in a small range between 1.4505 and 1.4480, consolidating daily gains. The pound continues to be among the top performers in the currency market during April, supported by a recovery in the polls of the “stay” position in the Brexit referendum. Uncertainty remains highs about the outcome of the June vote. “The GBP/USD retreated from 1.4520 high, but holds around the 1.4500 figure, maintaining a positive technical tone, as in the 4 hours chart, the price is well above a bullish 20 SMA, whilst the Momentum indicator continues heading north well above its 100 level and the RSI indicator consolidates around 70”,.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4460 TARGET 1.44801.4510 SL 1.4430
  • SELL GBP/USD BELOW 1.4420 TARGET 1.4400 1.4370 SL 1.4450

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

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