Forex Market

15Jun
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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
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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.

13Jun

IForex Market Trading Signals and News – 13 June 2016

MARKET UPDATES :

  • Forex – Dollar edges higher vs. euro, holds steady against yen
  • Forex – Yen holds gains in Asia after PPI data, Aussie down
  • Forex – Yen a bit stronger in Asia ahead of producer prices data

EUR/USD
EUR/USD fell sharply, erasing all of its gains from the previous session, as both Mario Draghi and George Soros voiced concern about the state of the euro area economy, as well as global economic conditions overall.The currency pair traded in a tight range between 1.1305 and 1.1416, before settling at 1.1318, down 0.69% on the session. Over a volatile last month of trading, the euro is still up by nearly 1% against the dollar. Despite Thursday’s considerable losses, the euro has still settled above 1.13 at the close of U.S. markets in six straight sessions.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 dropped to seven-week lows against the U.S. dollar on Friday, as fears of a potential British exit from the European Union, or Brexit, continued to dampen demand for sterling, while upbeat U.S. consumer sentiment boosted the greenback. GBP/USD hit 1.4324 during U.S. morning trade, the pair’s lowest since April 22; the pair subsequently consolidated at 1.4339, declining 0.84%.Cable was likely to find support at 1.4349, the low of June 6 and a three-week low and resistance at 1.4527, Thursday’s high.The pound came under selling pressure this week amid mounting fears of a potential Brexit victory at the U.K. referendum scheduled on June 23.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4460 TGT 1.4480 1.4510 SL 1.4430
  • SELL GBP/USD AROUND 1.4555-1.4552 TGT 1.4535 1.4505 SL 1.4585

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

10Jun
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IForex Market Trading Signals and News – 10 June 2016

MARKET UPDATES :

  • Forex – Sterling remains lower after U.K. trade data
  • Forex – Dollar near 5-week lows, NZ dollar hits 1-year highs
  • Forex – Aussie weaker after mixed China prices data, yen stronger

EUR/USD
EUR/USD extended recent gains to briefly clear 1.14 for the first time in three weeks, as the European Central Bank launched a comprehensive corporate bond buying program on Wednesday. The currency pair traded in a tight range between 1.1355 and 1.1410, before settling at 1.1396, up 0.0039 or 0.33%. With the slight gains, the euro posted its third straight win against the dollar and fifth over the last seven sessions. Since dipping below 1.11 in late-May, the euro has rallied by more than 2.3% against its American counterpart over the last week. 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 remained slightly lower against the dollar on Thursday as concerns over the upcoming European Union referendum overshadowed encouraging U.K. trade data. GBP/USD was last down 0.26% at 1.4466 from around 1.4459 earlier.The Office for National Statistics reported that the U.K. trade deficit fell more than expected in April, after a record increase in goods exports. The volume of exported goods jumped 11.2% or £2.2 billion from a month earlier, taking the total value of goods exports to £26.1 billion.Imports rose by £2 billion to £36.6 billion, the ONS said. The increase in exports meant that the trade deficit narrowed to £3.29 billion in April from a downwardly revised £3.53 billion in March, the lowest level since September 2015. The data indicated that recent weakness in trade data may be coming to an end.But sentiment on sterling remained fragile ahead of the June 23 EU Brexit referendum.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4515 TGT 1.4535 1.4565 SL 1.4485
  • SELL GBP/USD BELOW 1.4435 TGT 1.4405 1.4375 SL 1.4465

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

9Jun
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IForex Market Trading Signals and News – 09 June 2016

MARKET UPDATES :

  • Forex – Pound touches day’s highs after UK data, gains checked
  • Forex – Dollar index at 5-week lows on diminished rate hike bets
  • Forex – Aussie edges lower, kiwi gains ground vs. greenback

EUR/USD
EUR/USD inched up in cautious trade, as yields on German bunds sunk to an all-time record low while foreign exchange traders continued to react to nebulous comments from Janet Yellen on the possibility of a summer rate hike from the Federal Reserve. The currency pair traded between 1.1339 and 1.1380, before settling at 1.1357, up 0.02% on the session. EUR/USD has traded in a tight range in each of the last three sessions since surging nearly 2% last Friday after disappointing U.S. employment data increased the possibility that the Fed could take a June interest rate hike off the table. With the recent rally, the euro has nearly erased all of its losses from May’s swoon when it fell from 9-month highs versus 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
The pound touched the day’s highs against the dollar on Wednesday after data showing that U.K. industrial output rose at the fastest rate in nearly four years in April.GBP/USD hit highs of 1.4579 immediately following the release of the data, before pulling back to 1.4531. The Office for National Statistics said industrial production rose 2.0% in April after a 0.3% increase in March, the largest monthly increase since July 2012.Manufacturing output rose 2.3% after a 0.1% increase in March, in what was also the fastest monthly increase since July 2012.Output in the pharmaceuticals sector rose 8.6% the ONS said, the biggest month gain since February 2014. The pound’s gains were held in check amid ongoing uncertainty over whether Britain will remain in the European Union or not at a referendum on June 23.

STOCK RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4580 TGT 1.4600 1.4630 SL 1.4550
  • SELL GBP/USD BELOW 1.4500 TGT 1.4480 1.4450 SL 1.4530

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

8Jun
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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
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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
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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.

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