23Jun
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IForex Market Trading Signals and News – 23 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Sterling steady on eve of Brexit referendum
  • Forex – Aussie and kiwi move higher vs. weaker greenback
  • Forex – Aussie nearly flat in Asia as Brexit vote in focus

EUR/USD
EUR/USD has posted slight gains on Wednesday, following two days of losses. The pair is trading at 1.1270. On the release front, the Eurozone releases HPI and Consumer Confidence. The US will release Existing Home Sales, with the markets expecting the indicator to improve to 5.53 million. As well, Federal Reserve chair Janet Yellen will testify before the House Financial Services Committee regarding the Fed’s Monetary Policy Report. On Thursday, the US will release Unemployment Claims.With just one day left until the Brexit referendum vote in the UK, the campaign be- tween the “In” and “Out” camps is going down to the wire. Polls continue to predict a very close vote, but market sentiment is leading towards the UK staying within the EU.

GBP/USD
The pound was steady against the dollar on Wednesday, with one day to go before the U.K.’s referendum on European Union membership, as polls showed that the race between the Leave and Remain campaigns remains tight. GBP/USD was at 1.4644, holding below Monday’s six-month highs of 1.4782.An opinion poll on Tuesday showed that the campaign for the U.K. to stay in the EU lost some of its lead ahead of Thursday’s vote.The Survation poll showed that 45% of voters supported the campaign to remain in the EU, with 44% supporting Brexit, as a vote to leave is known. 11% were undecided.This compared to the 45% voting for remain and 42% voting to leave in an earlier survey. Two opinion polls released on Monday indicated that support for the Remain camp had regained its lead after falling behind last week.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4530 TGT 1.4550 1.4580 SL 1.4500
  • SELL GBP/USD BELOW1.4640 TGT 1.4620 1.4590 SL 1.4670

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