20Jun
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IForex Market Trading Signals and News – 20 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – USD/JPY holds near 22-month lows after BoJ, Fed statements
  • Forex – USD/CAD trades lower after U.S., Canadian data
  • Forex – Dollar slips lower vs. euro, holds near 22-month lows vs. yen

EUR/USD
The dollar slipped lower against the euro and held steady near 22-month lows against the yen on Friday, as dowbeat U.S. data, as well as the Federal Reserve and the Bank of Japan’s decision to leave monetary policies unchanged continued to weigh on the greenback. EUR/USD edged up 0.17% to trade at 1.1244.Sentiment on the greenback remained vulnerable after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending June 11 increased by 13,000 to 277,000.In addition, the U.S. Commerce Department said consumer prices rose 0.2% in May, compared to expectations for a 0.3% gain. Year-over- year, consumer prices were 1.0% higher last month, below expectations for a 1.1% gain.

GBP/USD
GBP/USD rallied more than 1% on Friday, as momentum surrounding the “Leave” campaign slowed for the time being after officials suspended Brexit-related activities for a second straight day following the tragic murder of a British Parliament member.The currency pair traded in a broad range between 1.4199 and 1.4388 before settling at 1.4207, up 1.10% on the session. With the sharp gains, the Pound Sterling enjoyed its strongest one-day move against the dollar in more than a month. At session-lows on Thursday, the pair tested 1.40, its lowest level since early-March. The Pound has still slid more than 1.25% over the last week amid mounting concerns that voters could support a referendum to leave the European Union next Thursday. GBP/USD likely gained support at 1.3852, the low from Feb. 26 and was met with resistance at 1.4693, the high from May 27.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4190 TGT 1.4210 1.4140 SL 1.4160
  • SELL GBP/USD AROUND 1.4420 TGT 1.4440 1.4470 SL 1.4390

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