Forex Market

24Jun

IForex Market Trading Signals and News – 24 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Pound eases from 6-month highs as Brexit vote gets underway
  • Forex – Aussie, kiwi hit multi-month highs ahead of Brexit vote
  • Forex – Yen holds weaker in Asia ahead of Brexit vote

EUR/USD
EUR/USD is currently trading with a bullish bias. Yesterday, instead of going short as previously forecasted, the pair traded traded long and even broke above the resistance level 1.1291. Following this breakout, we still expect further movements to the upper side but should not go above 1.1411. A clear breakout above this target will push the price to the upper side. This pair should be traded alongside GBP/USD, AUD/USD and NZD/USD. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.

GBP/USD
The pound eased after touching six month highs overnight as voting in a landmark referendum on whether the U.K. should remain in the European Union got underway. GBP/USD was last at 1.4760, up 0.36% for the day after touching highs of 1.4845 overnight, the strongest level since December 31.Sterling reviewed a boost late Wednesday after an opinion poll indicated that support for the Remain campaign edged into the lead.The YouGov poll for The Times newspaper showed that 51% of voters supported the campaign to remain in the EU, with 49% supporting Brexit, after a previous YouGov poll showing a lead for the campaign to leave.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4950 TGT 1.4970 1.5000 SL 1.4920
  • SELL GBP/USD BELOW1.4800 TGT 1.4780 1.4750 SL 1.4830

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

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

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

22Jun
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IForex Market Trading Signals and News – 22 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Euro falls to fresh 3-week lows against sterling
  • Forex – Sterling hits 7-week highs ahead of Brexit vote
  • Forex – Aussie rises, kiwi holds steady ahead of Yellen remarks

EUR/USD
EUR/USD is currently trading with a decreasing upward momentum. Yesterday, the pair traded short as previously forecasted but could not hit our target support 1.1291. The previously daily candle is pretty much bearish and may lead to a rally to the lower side. Thus, we still expect further momentum to the lower side probably a break below 1.1291 is likely to push the price further to the lower side but should not go beyond 1.1142. We will only be interested in going long in case the pair clearly break above 1.1403. This pair should be traded alongside NZD/USD, AUD/USD and GBP/USD. These pairs have a strong positive correlation of up to +0.91 and will have a similar price action during this intraday.

GBP/USD
The pound rose to a new seven-week high against the dollar on Tuesday, extending Monday’s gains as opinion polls indicated growing support for a U.K. vote to remain in the European Union ahead of Thursday’s referendum.GBP/USD climbed 0.28% to 1.4767, the highest level since May 3. Sterling climbed around three cents on Monday, in its strongest rally in nearly eight years. Two opinion polls released on Monday indicated that support for the ‘Remain’ campaign had regained its lead over a vote to exit the 28-member bloc.An ORB poll for the Daily Telegraph newspaper showed that 53% of voters supported the Remain campaign, compared with 46% support for the Leave campaign.A poll published by NatCen also showed Remain on 53% and Leave at 47%. But a poll by YouGov for The Times newspaper showed Leave ahead on 44%, with Remain on 42%.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4780 TGT 1.4800 1.4820 SL 1.4750
  • SELL GBP/USD BELOW1.4650 TGT 1.4630 1.4600 SL 1.4680

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

21Jun
Forex Signals

IForex Market Trading Signals and News – 21 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Sterling soars as Brexit fears ease, yen turns lower
  • Forex – Aussie, kiwi climb against broadly weaker greenback
  • Forex – Yen weaker as safe-haven demand eases on polls, pound gains

EUR/USD
EUR/USD wobbled on the market mood, suffering from the changing sentiment regarding the British EU Referendum. Apart from the event itself, we have key German surveys and PMIs. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. A UK exit of the EU is also seen as a danger for the euro-zone. When opinion polls showed a stronger lead for the Leave campaign, the euro suffered. When the pound recovered, the euro followed. Elsewhere, inflation figures were confirmed at low levels for May but industrial output surprised to the upside. In the US, the Fed was certainly dovish, but the dollar weakness that followed did not last on its own, nor did the positive retail sales. The upcoming week will see the culmination in the UK, the euro-zone and for many other currencies as well.

GBP/USD
GBP/USD surged more than 2% to near one-month highs on Monday, amid shifting public sentiments regarding a potential Brexit, as longstanding concerns related to the U.K.’s possible departure from the European Union continued to ease.The currency pair traded in a broad range between 1.4532 and 1.4719 before settling at 1.4699, up 2.30% on the session. After testing 1.40 last week, a three-month trough last seen in early-March, the British pound has rebounded sharply versus the dollar in each of the last three sessions. The Pound Sterling is now relatively flat against its American counterpart over the last month, erasing considerable losses from the start of June. GBP/USD likely gained support at 1.3852, the low from Feb. 26 and was met with resistance at 1.4770, the high from May 3.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4675 TGT 1.4695 1.4725 SL 1.4645
  • SELL GBP/USD BELOW1.4585 TGT 1.4565 1.4535 SL 1.4615

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

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

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

17Jun
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IForex Market Trading Signals and News – 17 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Yen soars as Bank of Japan holds off from further easing
  • Forex – Sterling trims losses after UK retail data, BoE ahead
  • Forex – Dollar index moves lower after Fed statement

EUR/USD
EURUSD bounced off the 1.120 support level and looks to be ranging within 1.130 and 1.120 levels. The minor resistance at 1.130 – 1.1285 was tested briefly yesterday with prices being rejected at this level. A break above 1.130 is required for EUR/USD to extend its gains towards 1.1380. To the downside, prices are likely to remain range bound above 1.1217 levels. A break below this support could see EURUSD test the lower end at 1.11430. We could, therefore, expect EURUSD to remain range bound in the near term with further gains or declines coming on a break of the respective resistance or support levels.

GBP/USD
The pound trimmed losses against the dollar on Thursday as data showing a surge in U.K. retail sales in May indicated that the economy is holding up despite uncertainty over next week’s European Union membership referendum.GBP/USD was at 1.4162, up from earlier lows of 1.4121The pound found support after the Office for National Statistics said retail sales rose 6.0% in May from the same month a year earlier, the biggest annual rise since September., Economists had expected a 3.9% increase. April’s retail sales growth was revised up to 5.2% from 4.3%, the ONS said.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4192 TGT 1.4212 1.4142 SL 1.4162
  • SELL GBP/USD BELOW 1.4120 TGT 1.4100 1.4070 SL 1.4150

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

16Jun
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IForex Market Trading Signals and News – 16 June 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Sterling hits day’s highs after UK jobs data as Brexit fears ebb
  • Forex – Euro edges higher as dollar eases ahead of Fed
  • Forex – Aussie, kiwi move higher ahead of Fed statement

EUR/USD
EUR/USD rose considerably on Wednesday after the Federal Reserve held short-term interest rates steady and lowered its rate path outlook for each of the next two years. The currency pair traded in a broad range between 1.1190 and 1.1299 before settling at 1.1264 at the close of U.S. afternoon trading, up 0.0043 or 0.50% on the session. With the sharp gains, the euro closed above 1.11 versus the dollar for the ninth consecutive session. More broadly, the euro is relatively flat against its American counterpart over the last month, down 0.39% during that span. 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
Sterling rose to the day’s highs against the dollar on Wednesday as fears that the U.K. may vote to exit the European Union eased and after data showing that Britain’s unemployment rate fell, while pay growth rose in the three months to April. GBP/USD hit highs of 1.4215, pulling further away from the two-month trough of 1.4090 set on Tuesday. The pound regained ground as risk appetite recovered and investors turned their attention to the outcome of the Federal Reserve’s
meeting later in the day.The Fed was to conclude its two-day policy meeting later on Wednesday and investors were looking for fresh indications on whether the U.S. central bank still expects to raise interest rates twice this year.Sterling has weakened across the board in recent sessions after a number of opinion polls showed that the U.K.’s EU referendum race is tightening ahead of the June 23 vote.

RECOMMENDATION :

  • BUY GBP/USD AROUND 1.4090 TGT 1.4110 1.4140 SL 1.4060
  • SELL GBP/USD AROUND 1.4300-1.4298 TGT 1.4280 1.4250 SL 1.4330

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

15Jun
forex-trading3

IForex Market Trading Signals and News – 15 June 2016

MARKET UPDATES :

  • Forex – Yen hits 3-year highs against euro, pound on Brexit fears
  • Forex – Sterling remains lower after UK inflation data on Brexit jitters
  • Forex – Sterling at 2-month lows, yen gains on Brexit fears

EUR/USD
EUR/USD bounced off one-week lows on Monday, as dollar sentiment remained weak ahead of a highly-anticipated interest rate decision from the Federal Reserve, when the U.S. central bank is widely expected to leave short-term rates unchanged.The currency pair traded between 1.1232 and 1.1303 before settling at 1.1292, up 0.0053 or 0.46% on the session. With the considerable gains, the euro ended a three-day losing streak against the dollar. Over the last month, the euro has been relatively flat against its American counterpart, down 0.75% during the period. More broadly, EUR/USD is up 4% since starting the year at 1.086.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
The pound was trading at almost two-month lows against the dollar on Tuesday after data showing that U.K. inflation remained steady in May, as concerns over prospect of a British exit from the European Union continued to weigh. GBP/USD was down 0.87% at 1.4144, holding just above Monday’s two-month trough of 1.4114. The Office for National Statistics said the annual rate of U.K. inflation remained steady at 0.3% in May, slightly below economists’ expectations for an increase of 0.4%.Lower prices for clothing and footwear along with food and beverages put the largest downward pressure on inflation, the ONS said.Fuel prices rose as oil prices recovered, the report said.Core inflation, which excludes volatile energy and food costs, remained steady at 1.2%, falling slightly short of forecasts for a 1.3% increase.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4200 TGT 1.4220 1.4240 SL 1.4170
  • SELL GBP/USD AROUND 1.4265-1.4263 TGT 1.4245 1.4205 SL 1.4295

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

14Jun
forex-trading3

IForex Market Trading Signals and News – 14 June 2016

MARKET UPDATES :

  • Forex – Pound hits 2-month lows as Brexit fears mount, yen rallies
  • Forex – Aussie edges higher, kiwi slips with focus on Fed meeting
  • Forex – Yen gains sharply on safe haven buying, China data assessed

EUR/USD
The EUR/USD pair fell slightly during the course of the day on Friday, as we continue to grind lower. However, the markets have quite a bit of support below, especially considering that we have the massive impulsive candle from last Friday when the jobs number was so poor. Because of this, it is more than likely only a matter time before the buyers return to this marketplace. Short-term speaking, this market could drop down to the 1.12 level, but that should be where the buyers start to return to take advantage of value.EUR/USD is currently trading with a strong bearish bias. on 10th June 2016, this pair broke below a significant support level 1.1283 and is still pretty much bearish.

GBP/USD
The Pound had another bearish session on Friday and continued lower today in early trading as nervous traders exited their positions in the wake of the newest Brexit polls. The positive economic releases of the week were mostly ignored, as investors consider the vote as the primary risk for the currency. The technical picture remains neutral, with strong resistance above the current rate around 1.4385 and support at 1.4150. The prior lows near 1.3850 still seem distant, despite the recent volatility in the pair.The pound fell to two month lows against the dollar on Monday and hit multi-year lows against the stronger yen as worries over a U.K. referendum on European Union membership next week took hold. GBP/USD was down 0.49% at 1.4185, the weakest level since April 18.Sterling has sold off in recent sessions amid fears that a U.K. exit or Brexit from the EU in the June 23 referendum could trigger a period of uncertainty in financial markets and hit growth in the region.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4183 TGT 1.4203 1.4233 SL 1.4153
  • SELL GBP/USD BELOW 1.4158 TGT 1.4138 1.4108 SL 1.4188

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

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