Forex Market

8Jun
forex-trading3

IForex Market Trading Signals and News – 08 June 2016

MARKET UPDATES :

  • Forex – Sterling jumps 1% as Brexit polls show ‘remain’ camp ahead
  • Forex – Dollar slides lower vs. rivals on Yellen remarks
  • Forex – Aussie and kiwi move higher after RBA holds

EUR/USD
EUR/USD is subdued on Tuesday, continuing the lack of activity which marked the Monday session. The pair is trading at 1.1370. On the release front, German Industrial Production posted a gain of 0.8%, matching the forecast. There are no major US events on the schedule, so it could be another quiet day for EUR/USD.The euro is trading quietly after a closely-watched speech by Fed Chair Janet Yellen on Monday. Speaking at the World Affairs Council in Philadelphia, Yellen said she remained optimistic about the US economy and hinted that the Fed would raise interest banks, but crucially, she gave no indication as to when that might occur.

GBP/USD
The pound rallied around 1% against the dollar on Tuesday as a number of opinion polls showed the Remain campaign with a lead over the Leave campaign ahead of the June 23 European Union referendum.GBP/USD hit highs of 1.4460 overnight and was last at 1.4588, up 1% from Monday’s close.Sterling also strengthened against the euro, with EUR/GBP down 0.98% at 0.7787.The pound was boosted after an opinion poll published in the Times newspaper late Monday showed support for remaining in the EU with a one-point lead over the ‘Leave’ campaign.\A separate poll, conducted by YouGov for the Times newspaper on Monday also showed a one-point lead for keeping Britain in the EU in the referendum.

RECOMMENDATION :

  • BUY EUR/USD ABOVE 1.1365 TGT 1.1385 1.1515 SL 1.1335
  • SELL EUR/USD BELOW 1.1355 TGT 1.1335 1.1305 SL 1.1385

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

7Jun
forex-market-hours

IForex Market Trading Signals and News – 07 June 2016

MARKET UPDATES :

  • Forex – Aussie up ahead of cash rate review, AIG construction index down
  • Forex – EUR/USD ticks up, as Yellen holds her cards close to the vest
  • Forex – Dollar index flat on Fed’s Yellen remarks

EUR/USD
EUR/USD inched up, as the dollar recovered from a mid-day swoon after Janet Yellen kept investors on their heels regarding the possibility of a summer interest rate hike with relatively neutral comments on the Federal Reserve’s long-term path on Monday afternoon. The currency pair traded in a tight range between 1.1326 and 1.1393, before settling at 1.1357, up 0.0008 or 0.05% on the session. The euro extended gains from last Friday when it surged nearly 2% against the dollar following the release of the weakest U.S. monthly jobs data in nearly six years. With the slight gains, the euro remained near three-week highs against its American counterpart.EUR/USD likely gained support at 1.1055, the low from March 15 and was met with resistance at 1.1616, the high from May 3.

GBP/USD
GBP/USD is currently trading with bearish bias. Earlier today, the pair gapped down and opened below a significant support level 1.4468, headed short and even broke below the next support level 1.4406. We expect the just broken support level 1.4395 to act as a resistance to any upward rally, thus, as long as the level 1.4395 holds true as a strong Resistance level, we expect an acceleration to the lower-side but should not close below 1.4304. However, in case the price close above 1.44061, then we expect a momentum to the upper side and may close above 1.4480. This pair should be traded alongside EUR/GBP, and GBP/JPY. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4365-1.4367 TGT 1.4387 1.4417 SL 1.4335
  • SELL GBP/USD BELOW 1.4352 TGT 1.4332 1.4302 SL 1.4382

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

6Jun
forex-trading3

IForex Market Trading Signals and News – 06 June 2016

MARKET UPDATES :

  • Forex – GBP/USD little changed after U.K. services PMI
  • Forex – Dollar slips vs. yen, steady vs. euro ahead of nonfarm payrolls
  • Forex – Aussie holds gains on services surveys, yen flat after wage data

EUR/USD
EUR/USD is unchanged on Friday, following slight losses in the Thursday session. The pair is trading at 1.1140. On the release front, German Final Services came in at 55.2 points, within expectations. Eurozone Final Services posted a reading of 53.3, slightly above the estimate. Eurozone Retail Sales came in at 0.0%. It’s a busy day in the US, with three employment indicators on the schedule – Average Hourly Earnings, Unemployment Rate, and Nonfarm Employment Change. The US will also publish ISM Non-Manufacturing PMI.

GBP/USD
The pound was little changed against the U.S. dollar on Friday, even after data showed that the U.K. service sector expanded at a faster rate than expected in May, as investors remained cautious ahead of a key U.S. employment report due later in the day. GBP/USD hit 1.447 during European morning trade, the session high; the pair subsequently consolidated at 1.4425. Cable was likely to find support at 1.4329, the low of May 16 and resistance at 1.4507, the high of June 1.Research group Markit said its U.K. services purchasing managers’ index rose to 53.5 last month from a reading of 52.3 in April. Analysts had expected the index to rise to 52.5 in April.Despite the better than expected read, Markit warned that the improvement in expectations would hinge on the June 23 referendum on the U.K.’s membership in the European Union.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4510 TGT 1.4560 1.4600 SL 1.4460
  • SELL GBP/USD BELOW 1.4365 TGT 1.4315 1.4275 SL 1.4315

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

3Jun
Forex trading

IForex Market Trading Signals and News – 03 June 2016

MARKET UPDATES :

  • Forex – Pound rises against weaker dollar, but gains checked
  • Forex – Dollar hits two-week low against yen
  • Forex – Aussie slides lower after mixed data, kiwi holds steady

EUR/USD
The EURUSD pair opens today’s trading with more positivity to start the breaching process to 1.1196 resistance, and as we mentioned yesterday, breaching this level represents key factor to confirm the continuation of the bullish trend, opening the way to head towards our next main target at 1.1356.Therefore, we will continue to suggest the bullish trend in the upcoming sessions, supported by the EMA50 that carries the price from below now, conditioned by the price stability above 1.1170 and the most important above 1.1066. Expected trading range for today is between 1.1110 support and 1.1320 resistance.

GBP/USD
The pound moved higher against softer dollar on Thursday as doubts over a near-term U.S. rate hike hit the greenback, but sterling’s gains were held in check after disappointing U.K. construction sector data.GBP/USD was up 0.16% at 1.4436, holding below session highs of 1.4467. The pound’s gains were checked after survey data showing that the slowdown in the U.K. construction sector continued in May, amid the first drop in new orders since April 2013. The Market construction purchasing managers’ index fell to 51.2 from April’s reading of 52.0. Economists had expected an unchanged reading.The report said that delay’s to client decision making ahead of the European Union membership referendum on June 23 had contributed to the slowdown.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4470 TGT 1.4490 1.4520 SL 1.4400
  • SELL GBP/USD BELOW 1.4418 TGT 1.4398 1.4368 SL 1.4448

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

2Jun
forex-trading3

IForex Market Trading Signals and News – 02 June 2016

MARKET UPDATES :

  • Forex – Dollar slips lower as mixed U.S. data continues to weigh
  • Forex – Sterling falls after subdued U.K. factory data, ODEC warning
  • Forex – Dollar drops against yen, investors pare June rate hike expectations

EUR/USD
EUR/USD continues to have an uneventful week, as the pair trades at 1.1160 on Wednesday. On the release front, German Manufacturing PMI came in at 52.5 points, beating expectations. Eurozone Manufacturing PMI posted a reading of 51.5 points, matching the forecast. The US will also release a key manufacturing indicator, ISM Manufacturing PMI. The markets are expecting a weak reading of 50.5 in the April report. On Thursday, the ECB sets interest rates, while the US releases two key events – ADP Nonfarm Payrolls and Unemployment Claims.There were no surprises from the Eurozone manufacturing sector, which continues to show weak growth. German and Eurozone Manufacturing PMIs came in slightly above the 50 level, which separates contraction from expansion. German numbers have been mixed this week. German numbers have started the week with mixed results.

GBP/USD
The pound fell to the day’s lows on Wednesday after data showing that U.K. manufacturing edged back into expansion territory in May but growth remained subdued and as OECD cut its U.K. growth forecast and warned on Brexit.GBP/USD touched lows of 1.4450, down from around 1.4467 ahead of the data.Market said the U.K. manufacturing purchasing managers’ index ticked up to 50.1 last month from 49.4 in April.Economists had forecast a reading of 49.6.The index was only fractionally above the 50.0 level separating growth from contraction. The domestic market remained positive for manufacturers, especially for producers of consumer goods, but softer global continued to weigh on new export orders, the report said.

STOCK RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4446 TGT 1.4466 1.4496 SL 1.4416
  • SELL GBP/USD BELOW 1.4416 TGT 1.4396 1.4376 SL 1.4446

For more information about SGX stock market please feel free to visit EPIC RESEARCH PTE LTD.

1Jun
Forex trading

IForex Market Trading Signals and News – 01 June 2016

MARKET UPDATES :

  • Forex – Dollar hovers at 2-month highs ahead of U.S. data
  • Forex – Euro holding above 10-week lows after EZ inflation, jobs data
  • Forex- Aussie and kiwi move higher on upbeat data

EUR/USD
The euro stayed supported above 10-week lows against the dollar on Tuesday after data showing that euro zone consumer prices remained in negative territory this month, though the rate of deflation eased.EUR/USD was last at 1.1131, holding above the 10-week trough of 1.1097 set on Monday.Eurostat reported that the flash estimate showed that consumer prices in the single currency bloc fell 0.1% on a year-over-year basis in May, in line with economists’ expectations after falling 0.2% in April.The European Central Bank targets inflation of close to, but just below 2%. The decline in inflation was due in large part to lower oil prices, Eurostat said.Energy prices fell by 8.1% in May from a year earlier, slowing from an 8.7% fall in April.Core inflation, which strips out energy and food costs, rose by 0.8% in May from 0.7% in April.

GBP/USD
GBP/USD is currently trading with a strong bullish bias. Yesterday, the pair traded short as previously forecasted but ended up closing a few pips from our first target 1.4575. Currently, this pair is pretty much bullish and may break above 1.4706, but should not close above 1.4818. In the meantime, we are waiting for a clear breakout above 1.4729 to give us the green light to continue to the upper-side. This view can only be invalided should the price end up rebounding from 1.4729. A rebound from this resistance level will lead to an acceleration to the lower side but should not go below 1.4480. This pair should be traded alongside GBP/CHF, and GBP/JPY. These pairs have a strong positive correlation and will thus have a similar price action during this intraday.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4565-1.4568 TGT 1.4598 1.4628 SL 1.4535
  • SELL GBP/USD BELOW 1.4540 TGT 1.4520 1.4490 SL 1.4570

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

31May

IForex Market Trading Signals and News – 31 May 2016

MARKET UPDATES :

  • Forex – Dollar rallies to 1-month highs vs. yen on rate hike view
  • Forex – Aussie, kiwi slide lower vs. broadly stronger greenback
  • Forex- Dollar holds steady at 2-month highs on Yellen remarks

EUR/USD
The EUR / USD tested the lower boundary of the rising channel; you can see a rebound there. The RSI on the four-hour chart rebounded from the support level, indicating the growth of the European currency. Thus, the forecast EUR / USD on 31 May 2016 provides the consolidation in the 1.1120 area and the upward movement development. There are attempts of the “bears” to break the ascending channel – the main support is in the 1.1100 area.

GBP/USD
The pound was fixed above the level of 1.46, the main purpose for the “bulls” is above the May maximums. The indicator of the RSI is in the neutral zone and is ready to resume growth to the resistance level, which indicates in favor to the quotations growing. The GBP / USD forecast for 31 May 2016 considers the strengthening of the pound, but as the referendum approached the UK’s membership in the European Union, the volatility will increase.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4590 TGT 1.4610 1.4640 SL 1.4560
  • SELL GBP/USD BELOW 1.4569 TGT 1.4549 1.4509 SL 1.4599

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

30May

IForex Market Trading Signals and News – 30 May 2016

MARKET UPDATES :

  • Forex – Dollar edges higher with Yellen remarks on tap
  • Forex – Yen turns weaker in Asia as investors look ahead to Yellen views
  • Forex- Dollar holds steady vs. euro, yen ahead of Yellen speech

EUR/USD
EUR/USD is unchanged on Friday, after the pair posted small gains in the Thursday session. The pair is trading quietly slightly below the 1.12 line. On the release front, there are no Eurozone events on the schedule. The US will release two key indicators – Preliminary GDP and UoM Consumer Sentiment. As well, Fed chair Janet Yellen will deliver remarks at an event in Boston. Traders should be prepared for possible volatility from EUR/USD in the North American session. The US economy has shown mixed numbers in the first quarter, and Preliminary GDP, which can be treated viewed as an economic report card, will be closely monitored. Final GDP for the fourth quarter came in at 0.5%, shy of the estimate of 0.7%. The estimate for Preliminary GDP stands at 0.8%, and if the indicator matches or beats this reading, the US dollar could push upwards.

GBP/USD
GBP/USD is currently trading with a bullish bias. Yesterday, the pair rebounded from the resistance level 1.47068, headed short and is still pretty much bearish. We expect the current upward rally to be a mere upward pullback and should not close above 1.4729, a close above this level will lead to an acceleration towards 1.4818, while a clear rebound from 1.4706 – 1.4729 will confirm the anticipated momentum to the lower side. This pair should be traded alongside GBP/CHF, and GBP/JPY. These pairs have a strong positive correlation of up to +0.85 and will have a similar price action during this intraday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4688 TGT 1.4708 1.4738 SL 1.4658
  • SELL GBP/USD BELOW 1.4640 TGT 1.4620 1.4590 SL 1.4670

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

27May
Forex Signals

IForex Market Trading Signals and News – 27 May 2016

MARKET UPDATES :

  • Forex – Dollar slips lower but remains broadly supported
  • Forex – Sterling edges lower after U.K. growth figures
  • Forex- Yen moves higher as Yellen speech eyed

EUR/USD
EUR/USD rose moderately on Thursday, extending slight gains from the previous session, as foreign exchange traders awaited comments from Janet Yellen for possible signs of whether the Federal Reserve could tighten its monetary policy cycle next while the European Central Bank maintains an unorthodox negative interest rate policy. The currency pair traded between 1.1155 and 1.1217, before settling at 1.1193, up 0.0038 or 0.34% for the session. Despite the brief gains over the last two sessions, the euro is still in the midst of one of its driest spells on the calendar year. Since hitting nine-months in early-May, EUR/USD has fallen considerably by nearly 3%.EUR/USD likely gained support at 1.1055, the low from March 15 and was met with resistance at 1.1434, the high from May 12.

GBP/USD
The pound edged lower on Thursday after data confirming that the British economy grew 0.4% in the first three months of this year, but business investment unexpectedly fell ahead of the European Union referendum.GBP/USD was last at 1.4687, down from around 1.4722 ahead of the data.The Office of National Statistics said gross domestic product growth slowed to 0.4% in the three months to March, in line with the preliminary esti- mate, from 0.6% in the previous quarter.The annual rate of growth was revised down to 2.0% from 2.1% initially, the ONS said.The report showed that business investment fell during the quarter for the first time in three years amid uncertainty over an upcoming referendum on Britain’s EU membership.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4739 TGT 1.4759 1.4789 SL 1.4709
  • SELL GBP/USD BELOW 1.4677 TGT 1.4657 1.4627 SL 1.4707

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

26May

IForex Market Trading Signals and News – 26 May 2016

MARKET UPDATES :

  • Forex – Dollar dips but remains firm on rate hike view
  • Forex – Aussie and kiwi rise vs. greenback on oil rebound
  • Forex- Dollar edges lower, remains underpinned by robust U.S. housing data

EUR/USD
EUR/USD is currently trading with a slight bullish bias. Yesterday, the pair traded short and even broke below a very significant support level 1.1166 and is currently retracing towards it. We expect the current upward rally to be a mere upward retracement and should not go above 1.1166. A break above this level will lead to an acceleration to the upper side, but should not close above 1.12177. This pair should be traded alongside NZD/USD, AUDF/USD and ER/HKD. These pairs have a strong positive correlation of up to +0.96 and will likely have a similar price action during this intraday.

GBP/USD
GBP/USD is currently trading with a slight bearish bias. Yesterday, the pair bounced off from the support zone 1.4480-1.4468, headed long and is still pretty much bullish. Following the break above 1.4543, we are very reluctant to go short, instead, we expect the current downward rally to be a mere pullback and should not close below 1.4543. A clear break below 1.4543 will lead to a rally to the lower side while a rebound from 1.4543 will lead to an acceleration to the upper side but should not go above 1.4729. This pair should be traded alongside GBP/CHF, USD/JPY, GBP/JPY and GBP/HKD. These pairs have a strong positive correlation of up to +0.92 and will have a similar price action during this intaday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4663 TGT 1.4683 1.4713 SL 1.4633
  • SELL GBP/USD BELOW 1.4601 TGT 1.4581 1.4581 SL 1.4631

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

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