Forex Market

3Mar
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IForex Market Trading Signals and News – 03 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar rises against yen as risk appetite sharpens
  • Forex -Aussie rises on strong GDP data, kiwi holds steady
  • Forex -Yen sours as risk appetite returns, Aussie focused on GDP

EUR/USD
The EUR/USD pair keeps its stability below 1.0890 level, showing slight bearish bias in attempt to move away from the mentioned level, noticing that stochastic loses its positive momentum gradually approaching from the overbought levels, which represents negative factor that we wait to push on the price to continue the bearish bias in the upcoming period. Therefore, our bearish trend expectations will remain valid efficiently on the intraday and short term basis, supported by the negative pressure that comes from the EMA50, waiting for visiting 1.0750 level as a next main target, pointing that breaching 1.0890 level will stop the suggested negative scenario temporarily and pushes the price to test 1.1005 level initially.

GBP/USD
The pound slid to the day’s lows against the dollar on Wednesday after data showing that growth in the U.K. construction sector slowed to 10-month lows in February, on a drop in housebuilding.GBP/USD eased to 1.3932 from around 1.3945 ahead of the data. The Markit construction purchasing managers’ index fell to 54.2 from January’s 55.0. Economists had ex- pected the index to tick up to 55.5.It was the slowest increase in overall construction output since April 2015.Housebuilding expanded at the slowest pace since June 2013 and construction firms hired staff at the weakest rate in two-and-a-half years.The report came a day after a similar survey of the manufacturing sector, which showed that activity slumped to the lowest in almost three years in February.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was close to one-month highs at 98.48.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4040 TARGET 1.4060 1.4090 SL 1.4010
  • SELL GBP/USD BELOW 1.3880 TARGET 1.3860 1.3830 SL 1.3910

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

2Mar
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IForex Market Trading Signals and News – 02 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Yen in favour as China stimulus underwhelms, euro pressured
  • Forex -Yen gains on G20 disappointment, dollar climbs against euro
  • Forex – Sterling pares gains after weak UK manufacturing PMI

EUR/USD
The Euro looks poised to continue higher against the US Dollar after prices took out the top of a Triangle consolidation pattern. The breakout suggests the upside correction launched in mid-March has more room to develop beforethe larger multi-year down trend resumes.Near-term resistance is now at 1.1432, the 38.2% Fibonacci expansion, with a break above that on a daily closing basis opening the door for a chal-lenge of the 50% level at 1.1539. Alternatively, a move below resistance-turned-support at 1.1265 clears the way for a descent to the 1.1028-86 area, marked by the September 3 low and a rising trend line.

GBP/USD
Sterling pared gains after weak activity in the U.K. manufacturing sector that neared three-year lows, according to industry data released on Tuesday.In a report, market research group Markit said that its U.K. manufacturing PMI fell to a seasonally adjusted 50.8 last month from a reading of 52.9 in January. Analysts had expected the index to inch down to 52.2 in February. The reading was its lowest level since April 2013. The pound pared earlier gains after the report, but still managed to trade higher against other Forex majors. At 9:42AM GMT or 4:42AM ET, GBP/USD traded up 0.12% at 1.3932, ith regard to cable, investors will keep an eye U.S. manufacturing data with the Institute of Supply Management scheduled to report activity in the sector at 15:00GMT or 10:00AM ET.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3990 TARGET 1.4010 1.4040 SL 1.3960
  • SELL GBP/USD BELOW 1.3930 TARGET 1.3910 1.3880 SL 1.3960

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

1Mar
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IForex Market Trading Signals and News – 01 March 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar sharply lower against yen as China stocks sink
  • Forex – Aussie holds steady, kiwi declines after disapppointing data
  • Forex – Dollar edges up to fresh 3-week highs vs. rivals

EUR/USD
The euro fell to the day’s lows against the dollar and the yen on Monday after data showing that the euro area fell back into deflation in February for the first time in five months cemented expectations for more central bank stimulus. EUR/USD touched lows of 1.0896, the weakest since February 2 down from around 1.0915 earlier. The drop in the euro came after Eurostat said the consumer price index fell 0.2% on a year-over-year basis after rising 0.3% in January. It was the first negative inflation figure since September, when consumer prices fell 0.1%, and is well below the European Central Bank’s target of close to but just below 2.0%. Economists had expected the annual rate of inflation to tick down to 0.1%. The fall was due in large part to falling energy costs, which were 8% lower in the year to February compared to the previous month’s 5.4% drop. Core inflation, which strips out energy costs, fell to 0.7% from 1.0% in January.

GBP/USD
The GBP/USD is flat today with no domestic data but Brexit possibilities grow. The pound is trading at 1.3963. The UK currency remained below $1.40 against the US dollar following a torrid week. The slump in sterling has been fueled by fears the UK could vote to leave the EU, dubbed ‘Brexit’, on June 23. Jack Row, global fixed income investment manager at NN Investment Partners, said the pound had already weakened 4-7 per cent due to the risk of Brexit and warned it could fall further.He said: “It is not easy to assess how much the weakness of GBP is due to Brexit risk. Correlations with the US dollar and the euro have destabilized and it is not straight-forward how cyclical developments, such as disappointing UK economic data and a more dovish stance by the Bank of England, can be disentangled from Brexit risk. But it seems fair to say that GBP is around 4-7 per cent weaker because of it.”

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4020 TARGET 1.4040 1.4070 SL 1.3990
  • SELL GBP/USD BELOW 1.3860 TARGET 1.3840 1.3710 SL 1.3890

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

29Feb

IForex Market Trading Signals and News – 29 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – USD/CAD slips to 2-1/2 month lows amid rising oil prices
  • Forex – Dollar extends gains to fresh 3-week peak vs. rivals
  • Forex – Dollar moves higher on upbeat U.S. GDP data

EUR/USD
The euro dropped to one-month lows against the U.S. dollar on Friday, as strong U.S. economic reports lent broad support to the greenback.EUR/USD hit 1.0944 during U.S. morning trade, the pair’s lowest since February 3; the pair subsequently consolidated at 1.0958, declining 0.54%.The pair was likely to find support at 1.0901, the low of February 3 and resistance at 1.1137, the high of February 22.Preliminary data showed that U.S. gross domestic product grew 1.0% in the fourth quarter, compared to a previously reported 0.7% growth rate and expectations for a 0.4% rate.Data also showed that personal spending rose 0.5% in January, beating expectations for a 0.3% gain, after an increase of 0.1% in December.

GBP/USD
The pound edged higher against the U.S. dollar on Friday, as sentiment on the greenback weakened ahead of a string of key U.S. economic reports and as concerns over a potential British exit from the European Union slightly eased. GBP/USD hit 1.4020 during European morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.4014, rising 0.37%.Cable was likely to find support at 1.3875, Wednesday’s low and a seven-year low and resistance at 1.4155, Tuesday’s high.Investors were eyeing the release of U.S. economic growth, personal spending and consumer sentiment data, due later Friday, for further indications on the strength of the economy and potential U.S. rate hikes this year. The dollar had found support after data showed that U.S. durable goods orders rose far more-than-expected last month.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3880 TARGET 1.4000 1.4040 SL 1.3840
  • SELL GBP/USD BELOW 1.3830 TARGET 1.3810 1.3760 SL 1.3860

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

26Feb
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IForex Market Trading Signals and News – 26 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Dollar little changed as oil, Brexit worries dominate
  • Forex – Sterling near 7-year lows, yen holds steady
  • Forex – Aussie slips lower, kiwi holds steady in late trade

EUR/USD
The shared currency stayed put after EMU’s CPI today, with EUR/USD clinging to its daily gains around 1.1015/10 band.The pair has faded the overnight spike to daily peaks near 1.1040, giving away gains towards the 1.1000 handle as sentiment remains slightly biased towards the risk appetite. Collaborating with the upbeat sentiment, European equity markets are extending their gains after a positive open.Spot has practically ignored the final inflation figures in the euro area, with headline CPI rising 0.3% on a year to January and Core CPI up 1.0% YoY.The pair is now up 0.02% at 1.1010 with the next hurdle at 1.1048 (200-day sma) followed by 1.1112 (20-day sma) and finally 1.1220 (23.6% Fibo of December up-move). On the other hand, a break below 1.0974 (55-day sma) would expose 1.0955 (low Feb.24) and finally 1.0867 (76.4% Fibo of December up-move).

GBP/USD
The pound was trading close to seven-year lows against the dollar on Thursday as worries over a possible British exit from the European Union weighed, while the yen remained steady despite fresh falls in oil prices. GBP/USD was last at 1.3939 after falling 3.2% so far this week amid uncertainty over the outcome of the looming referendum on Britain’s EU membership. The pair it lows of 1.3877 on Wednesday, the weakest level since March 2009.Several senior members of Prime Minister David Cameron’s Conservative party, including London Mayor Boris Johnson, have said they will be backing the campaign to leave the EU, in a blow to his plans to remain in the bloc.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 97.58.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3940 TARGET 1.3960 1.3990 SL 1.3910
  • SELL GBP/USD BELOW 1.3880 TARGET 1.3860 1.3830 SL 1.3910

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

25Feb

IForex Market Trading Signals and News – 25 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Aussie, kiwi slip lower vs. greenback
  • Forex – Swiss franc hits 6-week highs against euro
  • Forex – Dollar index hits 3-week highs ahead of data, Fed speakers

EUR/USD
The selling mood is now dragging EUR/USD to fresh multi-day lows in the vicinity of 1.0970 and amidst a negative tone from European equity markets.The pair is trading in fresh 3-week troughs after quickly breaking below the psychological barrier at 1.1000 the figure today following an increasing bid tone in the greenback.Fanning the flames, crude oil prices are extending the drop, with the barrel of Brent navigating multi-day lows in the mid-$32.00s.Ahead in the day, US New Home Sales, the weekly report on inventories by the EIA and speeches by Fed’s Bullard and Kaplan (no voter) will take centre stage in the NA session.The pair is now losing 0.34% at 1.0981 facing the next support at 1.0972 (55-day sma) followed by 1.0965 (61.8% Fibo of December up-move) and finally 1.0709 (YTD low Jan.5). On the other hand, a break above 1.1108 (20-day sma) would open the door to 1.1123 (38.2% Fibo of December up-move) and then 1.1220

GBP/USD
The pound fell below $1.40 for the first time since March 2009 on Wednesday dragged lower by uncertainty over the outcome of the looming referendum on Britain’s European Union membership. GBP/USD hit lows of 1.3965, the weakest since mid-March 2009 and was last at 1.3985, off 0.24% for the day.The pound has come under heavy selling pressure amid fears over the impact on the economy if the outcome of the June 23 referendum leads to a “Brexit”.Sterling has now lost 2.9% this week after several senior members Prime Minister David Cameron’s Conservative party, including London Mayor Boris Johnson, said they were backing the campaign to leave the EU.The pound slid lower against the euro, with EUR/GBP edging up 0.13% to 0.7870, not far from the one year high of 0.7897 set on February 11.Elsewhere, the safe haven yen remained supported as fresh falls in oil prices pulled down equity markets, dampening investor demand for riskier assets.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.3975 TARGET 1.3400 1.3430 SL 1.3945
  • SELL GBP/USD BELOW 1.3920 TARGET 1.3900 1.3870 SL 1.3950

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

24Feb
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IForex Market Trading Signals and News – 24 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Yen up as rally in risky assets wanes, pound eyes BoE testimony
  • Forex -Aussie edges higher, kiwi slips in cautious trade
  • Forex – Dollar holds steady with U.S. data on tap

EUR/USD
The euro is steady on Tuesday, after sustaining sharp losses on Monday. EUR/USD is trading at the 1.10 line in the European session. On the release front, Germany will release Ifo Business Climate, a key event. The markets are expecting a strong reading of 107.0 points. In the US, there are two key releases – Existing Home Sales and CB Consumer Confidence. The markets will be looking for a strong reading from German Business Climate, after some disappointing releases from the Eurozone’s largest economy. German PPI, which measure inflation in the manufacturing sector, looked dismal in January, with a decline of 0.7%. This was shy of the estimate of -0.3%. So it comes as no surprise that German Flash Manufacturing PMI also missed expectations, with a reading of 50.2 points, barely above the 50-line, which separates contraction and expansion.

GBP/USD
The sterling is now wobbling around the 1.4100 handle vs. the greenback, with GBP/USD correcting lower from overnight tops in the 1.4160/50 band. While ‘Brexit’ fears are far from abated, the British pound has managed to bounce off yesterday’s fresh multi-year lows near 1.4050 and advance nearly a cent following the NA close.Market participants have perceived PM D.Cameron’s speech on Monday as stronger than expected, particularly when confronted with London’s mayor B.Johnson, giving some respite to GBP and allowing a rebound in spot.While the sterling remains vulnerable against the backdrop of ‘Brexit’ fears, today’s speech by BoE’s Carney before the Treasury Select Committee Hearing and the lecture by A.Haldane will grab all the attention.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4140 TARGET 1.4160 1.4190 SL 1.4110
  • SELL GBP/USD BELOW 1.4100 TARGET 1.4080 1.4050 SL 1.4130

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

23Feb
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IForex Market Trading Signals and News – 23 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Aussie and kiwi gain ground, but gains capped
  • Forex – Dollar rises to 2-week highs vs. other majors
  • Forex – Sterling hit by ‘Brexit’ worries, others major currencies calm

EUR/USD
The euro to the lowest level in three weeks against the dollar on Monday after data showing that euro zone private sector activity slowed in February underlined expectations for more easing by the European Central Bank.EUR/USD hit lows of 1.1056, the lowest level since February 3 and was last at 1.1065, down 0.6% for the day. The Markit euro zone composite purchasing managers’ index, which measures both the manufacturing and service sectors, dropped to a 13-month low of 52.7 in February from January’s 53.6.Economists had forecast a reading of 53.3.Manufacturing output showed the smallest increase since December 2014, moving closer to stagnation amid a further faltering in growth of new orders and exports.

GBP/USD
The pound fell to three week lows against the dollar on Monday and weakened against the euro after London Mayor Boris Johnson’s shock decision to back a campaign for Britain to exit the European Union. GBP/USD hit lows of 1.4176, the lowest since January 29 and was last at 1.4203, off 1.4% for the day.British Prime Minister David Cameron reached a deal with EU leaders on Friday giving Britain a special status in the bloc, which paved the way for him to call a referendum on EU membership on June 23.But on Sunday London’s Mayor Boris Johnson said he would be supporting the campaign to leave, arguing it is a chance “to vote for real change”.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4220 TARGET 1.4240 1.4270 SL 1.4190
  • SELL GBP/USD BELOW 1.4170 TARGET 1.4150 1.4120 SL 1.4200

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

22Feb

IForex Market Trading Signals and News – 22 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Dollar edges lower vs. yen, euro in cautious trade
  • Forex – Dollar holds steady vs. rivals, U.S. data on tap
  • Forex – USD/CAD moves higher after U.S., Canadian data

EUR/USD
The euro held steady near two-week lows against the U.S. dollar on Friday, as positive U.S. inflation data lent broad support to the greenback, while growing expectations for further easing by the European Central Bank dampened demand for the single currency. EUR/USD hit 1.1067 during U.S. morning trade, the pair’s lowest since February 3; the pair subsequently consolidated at 1.1104.The pair was likely to find support at 1.0987, the low of October 6 and resistance at 1.1153, Thursday’s high. Data showed that the U.S. consumer price index was flat in January, compared to expectations for a 0.1% downtick and after a 0.1% fall the previous month. Year-on-year, consumer prices increased by 1.4% last month. Core CPI, which excludes food and energy, rose 0.3% in January, more than the expected 0.2% gain and after an increase of 0.2% in December.Meanwhile, sentiment on the single currency remained vulnerable after the minutes of the European Central Bank’s January meeting, released on Thursday, signaled that the bank is prepared to inject further monetary easing next month if necessary to bolster growth.

GBP/USD
The pound slipped lower against the U.S. dollar on Friday, after the release of mixed economic reports from the U.K. and as investors continued to focus on discussions over Britain’s European Union membership. GBP/USD hit 1.4297 during European morning trade, the session low; the pair subsequently consolidated at 1.4304, shedding 0.23%.Cable was likely to find support at 1.4233, Wednesday’s low and resistance at 1.4517, Tuesday’s high.The U.K. Office for National Statistics said that retail sales rose 2.3% in January, beating expectations for a 0.8% gain. Retail sales declined by 1.4% in December, whose figure was revised from a previously estimated 1.0% fall.Year-on-year, retail sales climbed 5.2% last month, exceeding expectations for a 3.6% riseCore retail sales, which exclude automobiles and fuel, increased by 2.3% in January, compared to expectations for an uptick of 0.7%. Core retail sales slipped 1.3% in December, whose figure was revised from a previously estimated 0.9% decline.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4340 TARGET 1.4360 1.4390 SL 1.4310
  • SELL GBP/USD BELOW 1.4270 TARGET 1.4250 1.4220 SL 1.4300

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

19Feb

IForex Market Trading Signals and News – 19 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar slips lower against yen, euro steady
  • Forex – Aussie drops on weak jobs data, kiwi edges higher
  • Forex – Loonie leads commodity currencies higher, dollar subdued

EUR/USD
The EUR/USD pair found fresh bids near 1.1125 region and now crawls higher towards daily highs, mainly backed by broad based US dollar weakness. EUR/USD trades 0.13% higher at 1.1141, heading for a retest of daily highs reached at 1.1150 in late-Asia. The main currency pair was caught by a fresh bid wave after the US dollar fell further into the red against its major peers as the European traders continue to assess the dovish Fed minutes heading into the ECB Jan meeting accounts release.Further, the bulls continue its fight to take-out 1.1150 barrier, as the renewed optimism in the European indices weigh on the safe-haven currency EUR. Germany’s DAX erased losses and now rises 0.40%, while the pan- European benchmark, the Euro Stoxx also regains momentum and advances 0.60%.

GBP/USD
The British pound is now picking up pace vs. the greenback, sending GBP/USD to session highs beyond the 1.4300 barrier.Spot has managed to retake levels above 1.4300 the figure after BoE’s Jon Cunliffe has argued he sees no reason to change his outlook on a rate hike by the central bank.The comments have brought in some relief to the sterling, which was trading in lows near 1.4260 area vs. the US dollar.Ahead in the day, US Initial Claims and the Philly Fed Survey will take centre stage later in the NA session, while Retail Sales are next on tap in the UK economy tomorrow.As of writing the pair is up 0.14% at 1.4309 facing the next hurdle at 1.4399 (20-day sma) followed by 1.4522 (38.2% Fibo of 1.5240- 1.4079) and finally 1.4621 (55-day sma). On the other hand, a breach of 1.4200 (psychological level) would aim for 1.4171 (low Jan.26) and then 1.4147 (low Jan.29).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4330 TARGET 1.4350 1.4380 SL 1.4300
  • SELL GBP/USD BELOW 1.4270 TARGET 1.4250 1.4220 SL 1.4300

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

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