Forex Market

18Feb
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IForex Market Trading Signals and News – 18 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Aussie and kiwi lose ground vs. greenback in late trade
  • Forex – Sterling dips as U.K. wage growth slows
  • Forex – Dollar holds steady ahead of U.S. data, Fed minutes

EUR/USD
The shared currency has recovered the smile so far on Wednesday, pushing EUR/USD to test fresh daily tops near 1.1170. The pair is posting gains for the first time since Friday, finding quite decent support around the 1.1100 neighbourhood in a context where risk aversion and risk appetite keeps alternating the dominance. Absent releases in Euroland, traders’ attention will shift to the US docket, where Housing Starts, Building Permits, Producer Prices, Industrial Production and Capacity Utilization are all due later ahead of the more relevant FOMC minutes.The pair is now advancing 0.18% at 1.1163 facing the next hurdle at 1.1220 (23.6% Fibo of December up-move) followed by 1.1378 (high Feb.11) and then 1.1460. On the flip side, a breakdown of 1.1059 (200-day sma) would target 1.0965 (61.8% Fibo of December up-move) and finally 1.0709 (YTD low Jan.5).

GBP/USD
The pound edged lower against the dollar on Wednesday after the latest U.K. jobs report showed that wage growth slowed in the last three months of 2015, underlining expectations that interest rates will remain on hold for longer. GBP/USD slid from around 1.4289 ahead of the data to an intra-day low of 1.4265. The Office for National Statistics said the unemployment rate remained unchanged at 5.1% in the three months to December,matching the three months to November which was the lowest since mid-2005.Economists had expected the jobless rate to tick down to 5.0%. Annual wage growth, including bonuses, rose 1.9% in the three months to December, matching forecasts, but slowing from 2.1% in the three months to November. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 96.93.

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.

17Feb
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IForex Market Trading Signals and News – 17 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Dollar slips lower vs. rivals, U.S. data ahead
  • Forex – Aussie edges higher on RBA minutes, kiwi declines
  • Forex – Euro and yen gain as risk appetite fizzles

EUR/USD
The euro rose against the dollar on Tuesday, as market sentiment soured with European shares and oil prices turning lower after earlier gains.Risk appetite faded after a meeting between oil ministers from Saudi Arabia, Russia, Qatar and Venezuela ended with consensus to freeze output, but not to cut production.The U.S. dollar index, which measures the green-back’s strength against a trade-weighted basket of six major currencies, was down 0.26% to 96.50. The low yielding euro rose against the dollar, with EUR/USD rising 0.23% to 1.1181. The euro’s gains were held in check after European Central Bank President Mario Draghi said Monday the bank would not hesitate to act in March, reinforcing expectations for additional stimulus measures.Meanwhile, data on Tuesday showed that German economic sentiment fell sharply this month, amid concerns over falling oil prices, slowing global growth and heightened market volatility

GBP/USD
The pound was trading close to the day’s highs against the dollar on Tuesday after data showing that the annual rate of inflation in the U.K. rose to a one-year high in January. GBP/USD was up 0.35% at 1.4488, close to the day’s highs of 1.4516.The Office for National Statistics reported that the consumer price index rose 0.3% on a year-over-year basis last month, matching forecasts and up from 0.2% in December.The main contributors to the increase in consumer prices were motor fuels and also to a lesser degree alcoholic beverages and clothing. Air fare prices partially offset the rise in inflation, falling by more than they did a year ago. Consumer prices fell 0.8% in January from a month earlier, worse than forecasts for a decline of 0.7% and following a gain of 0.1% in the prior month.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4470 TARGET 1.4490 1.4520 SL 1.4440
  • SELL GBP/USD BELOW 1.4420 TARGET 1.4400 1.4380 SL 1.4450

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

16Feb

IForex Market Trading Signals and News – 16 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar moves higher as market sentiment improves
  • Forex -Yen and euro sink as China and Japan ease global nerves
  • Forex -Aussie and kiwi strengthen vs. greenback but gains capped

EUR/USD
Although euro extended its weakness against the greenback after meeting renewed selling interest at 1.1230 at European open n fell to a fresh intra-day low of 1.1188, cross-buying in euro vs other major ccys lifted price to 1.1209. In European morning, data showed the European Union’s trade surplus increased to 24.3B euros in Dec 2014 compare to 23.6B euros in preceding month. At present, offers are noted at 1.1220-30, then 1.1240-50 with stops above 1.1270. On the downside, bids are reported at 1.1180-70 and more around 1.1160 with stops below 1.1150.

GBP/USD
The GBP/USD pair trades uneventfully around the 1.4500 level, unchanged ever since the day started and unable to react to market’s improved mood. The dollar however, trades generally higher across the board, as during the Asian session, speculation that Japan will intervene further to weaken the yen sent the local benchmark, the Nikkei 225, up over 1,000 points.In Europe, stocks opened strongly higher, with the London FTSE 100 extending its Friday’s advance; however, the GBP/USD pair remains within a tight range. With no data in the UK and a holiday in the US, the pair will likely remain limited this Monday, with the risk remaining towards the downside as long as stocks keep running.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4500 TARGET 1.4520 1.4550 SL 1.4470
  • SELL GBP/USD BELOW 1.4460 TARGET 1.4440 1.4410 SL 1.4490

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

15Feb
Forex Signals

IForex Market Trading Signals and News – 15 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Dollar hovers near 4-month lows, eyes on data
  • Forex -Yen on track for strongest week since late 2008
  • Forex -Dollar strengthens vs. rivals ahead of U.S. data

EUR/USD
EUR/USD fell modestly on Friday, retreating from three-month highs reached in the prior session, as currency traders continued to assess the risks associated with negative interest rate policies one day after Sweden’s Central Bank unexpectedly lowered their rates deeper below zero. The currency pair traded in a broad range between 1.1214 and 1.1333 before settling at 1.1255, down 0.0061 or 0.54% on the session. Despite the slight losses, EUR/USD has still closed higher in seven of the last 10 sessions and 11 of the last 15. After nearly slipping below 1.08 at the end of last month, the euro is up by nearly 4% against its American counterpart in February.EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1496, the high from Oct. 15. The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, gained more than 0.45% to an intraday high of 96.25, before closing at 95.99. The index is still down more than 3.7% since the BOJ’s rate decision on January 29.

GBP/USD
The pound edged higher against the U.S. dollar on Friday, but gains were expected to be limited as investors remained cautious amid persistant global turmoil and ahead of the release of U.S. data later in the day. GBP/USD hit 1.4528 during European morning trade, the session high; the pair subsequently consolidated at 1.4511, adding 0.26%.Cable was likely to find support at 1.4381, Thursday’s low and resistance at 1.4579, the high of February 10.Investors remained cautious amid ongoing fears over the health of the global economy and the euro zone financial sector. Markets were also jittery as oil prices remained below $28 a barel on Friday, even after the United Arab Emirates energy minister said the OPEC was willing to talk with other exporters about cutting output. In the U.S., Federal Reserve Chair Janet Yellen reiterated to the Senate on Thursday comments made the previous day to Congress.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4525 TARGET 1.4545 1.4575 SL 1.4495
  • SELL GBP/USD BELOW 1.4500 TARGET 1.4480 1.4450 SL 1.4530

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

12Feb

IForex Market Trading Signals and News – 12 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Aussie holds steady, kiwi slips in cautious trade
  • Forex -Dollar hits fresh 15-month lows against yen after Yellen
  • Forex -Dollar drops vs. rivals on U.S. rate hike uncertainty

EUR/USD
The shared currency is trading on a firmer footing vs. the dollar on Thursday, with EUR/USD trading well beyond the 1.1300 handle. The pair has surrendered the earlier spike to the 1.1360 area against the backdrop of persistent risk-off sentiment, fuelled at the same time by the negative performance of European equity markets.Ahead in the session there are no scheduled releases in Euroland while Initial Claims and another testimony by Chairwoman J.Yellen will grab all the attention across the pond later. The pair is now advancing 0.24% at 1.1321 with the next hurdle at 1.1460 (monthly high Sep.18) ahead of 1.1496 (monthly high Oct.15) and finally 1.1713 (post- PBoC high Aug.24). On the other hand, a breakdown of 1.1055 (200-day sma) would open the door to 1.1002 (20-day sma) and finally 1.0963 (100-day sma).

GBP/USD
The GBP/USD pair halted its 2-day rally and reverted to the red zone in the European session, as risk-aversion was rife amid renewed weakness in the European indices. The GBP/USD pair trades 0.71% lower at 1.4417, hovering within a striking distance of the 1.44 handle. Having peaked at 1.4564 levels in early Asia, the GBP/USD pair continues to inch lower, with selling pressure intensifying over the last hours as the European equities resumed the downtrend and sparked renewed risk-aversion wave across Europe. The UK’s FTSE drops -2.63%, while the pan-European benchmark, the Euro Stoxx slumps over -3.30%.Markets are giving up higher-yielding currencies such as the GBP in favour of safe-haven assets like the yen, in a bid to protect their capital amid ongoing global sell-off. In the day ahead amid a lack of fundamental triggers, the oil price action and sentiment on the equities will drive the cable.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4470 TARGET 1.4490 1.4520 SL 1.4440
  • SELL GBP/USD BELOW 1.4395 TARGET 1.4375 1.4345 SL 1.4425

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

11Feb
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IForex Market Trading Signals and News – 11 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar edges higher vs. rivals before Yellen remarks
  • Forex -Aussie rises, kiwi little changed with Yellen speech on tap
  • Forex -Pound pushes higher, gains capped after U.K. data

EUR/USD
The EUR bears retain control and fade any recovery attempt made by EUR/USD in the mid-European session, now pushing the prices below the mid-point of 1.12 handle.Currently, EUR/USD trades -0.42% lower at fresh session lows of 1.1244, shedding nearly 60 pips so far this Wednesday. The offered tone around the EUR/USD pair keeps growing bigger, as the European stocks-recovery picks-up pace backed by a solid rebound in the banking sector stocks. The demand for the safe-haven/ low yielding currency euro appears to dissipate as markets look for more returns on their investments from higher-yielding assets such as equities against the back-drop of improved risk sentiment.Moreover, markets continue to unwind USD shorts after two back-to back sessions of losses, ahead of Yellen’s testimony due later in the day.

GBP/USD
The pound pushed higher against the dollar on Wednesday as overall market sentiment improved, but gains were held in check after data showing that U.K. industrial output fell by the most since September 2012 in December. GBP/USD was up 0.22% to 1.4503 from around 1.4461 ahead of the data. The Office for National Statistics said industrial output fell 1.1% in December after a 0.8% drop in November. Economists had forecast a more modest 0.1% decline. The large fall was due in large part to a 4.6% decline in oil and gas extraction and a 4% drop in mining. Manufacturing output fell 0.2% after dropping 0.3% in December. Economists had expected manufacturing output to edge up 0.1%.On a year-over-year basis manufacturing output was down 1.7%. The data added to fears that the U.K. economy lost momentum at the end of 2015. But the pound shrugged off the data as gains in European stock markets bolstered risk appetite.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4516 TARGET 1.4521 1.4527 SL 1.4510
  • SELL GBP/USD BELOW 1.4446 TARGET 1.4441 1.4435 SL 1.4452

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

10Feb

IForex Market Trading Signals and News – 10 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -NZD/USD moves lower in late trade
  • Forex -Dollar falls to more than 1-year low against yen
  • Forex -AUD/USD drops after tepid Australian data

EUR/USD
The shared currency has faded the overnight spike to daily highs near 1.1240 vs. the greenback, with EUR/USD now testing the lower end of the range in the 1.1170/60 band. The initial bull run to the 1.1240 area has been supported by a fresh wave of risk aversion following a slump of the Japanese equity markets. However, the risk appetite has managed to return to the global markets after European equities reverted the negative start, adding to the offered tone in EUR.On the data front, German Industrial Production has contracted at a monthly pace of 1.2% during December and the trade surplus shrunk to €18.8 billion during the same period, both prints missing expectations. The pair is now retreating 0.16% at 1.1172 and a breach of 1.1054 (200-day sma) would open the door to 1.0966 (20-day sma) and finally 1.0899 (55-day sma). On the flip side, the next up barrier lines up at 1.1246 (high Feb.5) ahead of 1.1496 (high Oct.15) and finally 1.1713 (post-PBoC high Aug.24).

GBP/USD
The pound was little changed against the dollar on Tuesday after data showing that the U.K. trade deficit widened in the final quarter of 2015, despite improving in December, and is likely to have acted as a drag on growth. GBP/USD was at 1.4444, from around 1.4431 ahead of the report. The Office for National Statistics said the total trade deficit widened to £10.3 billion in the fourth quarter from £8.5 billion pounds in the previous quarter, marking the biggest trade gap since the start of 2015. The annual trade deficit widened to £34.7 billion in 2015, up from £0.3 billion in 2014. Trade is likely to appear as a drag on economic growth when revised figures for fourth quarter gross domestic product are released, the ONS said.In December, the total U.K. trade deficit, including services, narrowed to £2.7 billion from £4.031 billion, helped by the value of oil imports falling to their lowest since February 2009 amid a steep drop in oil prices.Sterling was slightly higher against the euro, with EUR/GBP easing 0.14% to 0.7745.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4444 TARGET 1.4464 1.4494 SL 1.4414
  • SELL GBP/USD BELOW 1.4420 TARGET 1.4400 1.4470 SL 1.4390

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

9Feb
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IForex Market Trading Signals and News – 09 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD rises but gains seen limited
  • Forex -NZD/USD edges higher in late trade
  • Forex – Dollar higher against yen, euro steady

EUR/USD
The shared currency has quickly reverted the advance to the 1.1180 area vs. the dollar, with EUR/USD now dropping to session lows near 1.1120.The greenback has now gathering further pace and testing daily highs when measured by the US Dollar Index, rapidly sending spot lower and forcing the euro to fade the earlier spike to the boundaries of 1.1200 the figure.In the meantime, the current slump of crude oil prices continue to weigh on sentiment, exacerbated by a negative performance of European equities.On the data front, Investor’s Confidence tracked by the Sentix index has missed expectations for the current month, while the Fed’s Labor Market Conditions Index is due later in the NA session. The pair is now retreating 0.20% at 1.1127 and a breach of 1.1054 (200-day sma) would open the door to 1.0959 (100-day sma) and finally 1.0888 (55-day sma). On the flip side, the next up barrier lines up at 1.1246 (high Feb.5) ahead of 1.1496 (high Oct.15) and finally 1.1713 (post- PBoC high Aug.24).

GBP/USD
The sterling is intensifying its bearish tone today, now rapidly dragging GBP/USD to visit the 1.4400 neighbourhood. The pair shed more than a cent since today’s peaks in the 1.4550 area in response to a better sentiment surrounding the US dollar, which has managed to revert the initial offered tone. The British pound remains under pressure despite last week’s recovery, all against the back- drop of ‘Brexit’ concerns, a dovish BoE and expectations of a rate hike later than initially estimated. As of writing the pair is down 0.64% at 1.4408 with the next support at 1.4353 (23.6% Fibo of 1.5240-1.4079) followed by 1.4147 (low Jan.29) and then 1.4079 (low Jan.20). On the other hand, a breakout of 1.4670 (high Feb.4) would aim for 1.4706 (55-day sma) and finally 1.4796 (61.8% Fibo of 1.5240-1.4079).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4470 TARGET 1.4490 1.4520 SL 1.4445
  • SELL GBP/USD BELOW 1.4390 TARGET 1.4370 1.4345 SL 1.4415

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

5Feb
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IForex Market Trading Signals and News – 05 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Australian, New Zealand dollars steady near 1-month highs
  • Forex -Dollar on defensive after broad decline on rate hike doubts
  • Forex – No traction for dollar after Fed rates collapse

EUR/USD
EUR/USD is trading above the 1.11 line in Thursday’s European session, following sharp gains a day earlier. On the release front, there are no major Eurozone events. ECB President Mario Draghi will deliver remarks at an event in Frankfurt. In the US, today’s key event is Unemployment Claims, with the indicator expected to remain steady at 279 thousand.The shared currency picked-up significant strength versus its American counterpart in the last hours, with EUR/USD now hovering near multi-month highs above 1.1150.Currently, EUR/USD trades 0.44% higher at 1.1153, having printed fresh four-month highs at 1.1162 last minutes. The latest upsurge seen in the EUR/USD pair was triggered by ECB’s Chief Draghi’s pledge to fight inflation, as he spoke at the Deutsche Bundesbank’s Marjolin Lecture, in Frankfurt. Further, the EUR/USD pair completely ignored the risk-on rally in the European stocks and strengthened further as the US dollar halted its correction and resumed its broad based sell-off ahead of the US data releases, including the jobless claims and factory orders, which are likely to disappoint markets.

GBP/USD
The broad based USD sell-off seen in the NY session ran out of steam in Asia, opening doors for a drop in the GBP/USD below 1.46 levels.UK side of the story is likely to have a major say in determining the exchange rate as we move closer to the Super Thursday events- BOE rate decision, Minutes, Quarterly Inflation Report (QIR). Markets are expecting the central bank to maintain its dovish stance. Later in the day, US weekly jobless claims are due for release. Apart from the data, the broader market sentiment and the resulting impact on the USD could influence the pair. The spot currently trades around 1.4570. The immediate resistance is seen at 1.46, ahead of the major hurdle at 1.4649 (previous day’s high), which if taken out shall open doors for a rally to 1.4712 (50-DMA). On the other hand, a break below a strong support zone of 1.4519-1.4515 (38.2% of 1.5230-1.4079 + 23.6% of 1.4079-1.4649) would open doors for a slide to 1.4431 (38.2% of 1.4079-1.4649).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4650 TARGET 1.4670 1.4700 SL 1.4620
  • SELL GBP/USD BELOW 1.4610 TARGET 1.4580 1.4550 SL 1.4640

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

4Feb
forex-trading3

IForex Market Trading Signals and News – 04 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Yen pares back gains as oil prices edge higher
  • Forex – Kiwi boosted by jobs data, Aussie pushes higher
  • Forex – Yen and euro stand tall, oil slide brings focus back to global woes

EUR/USD
The single currency has now recovered the smile,sending EUR/USD back to the 1.0930 area after testing lows near 1.0900. The current recovery of crude oil prices seem to be lending some support to the pair, which has managed to bounce off session lows in the boundaries of 1.0900 the figure.Mixed results from January’s Services PMI in the euro area have passed largely unnoticed, while EMU’s Retail Sales have expanded 0.3% MoM during December, matching estimates. Ahead in the session, market consensus expects the ADP report to come in just below the 200K threshold and the ISM Non- manufacturing a tad lower to 55.1 for the last month. The pair is now advancing 0.10% at 1.0925 facing the next resistance at 1.0969 (high Jan.28) followed by 1.1000 (psychological level) and then 1.1053 (200-day sma). On the other hand, a break below 1.0777 (post-ECB low Jan.21) would open the door to 1.0737 (38.2% Fibo of 1.0538-1.1059) and finally 1.0709

GBP/USD
The pound rose to three week highs on Wednesday after data showing that the dominant U.K. service sector posted another solid rise in output in January, getting 2016 off to a strong start. GBP/USD hit 1.4462, the most since January 13, up from around 1.4430 ahead of the data.The Markit services purchasing managers’ index ticked up to a five month high of 55.6 from Decembers 55.5. Analysts had expected a slight downtick to 55.3.New business rose at the sharpest rate since last July, the report said, while service providers raised employment at the fastest pace since last October.But output growth was weaker than the trend rates achieved in 2013, 2014 and 2015 and the longer-term outlook for business activity hit a three-year low.“The three PMI surveys for January collectively point to a slight upturn in the rate of economic growth, consistent with GDP rising at a quarterly rate of 0.6% in the first quarter, up from 0.5% in the fourth quarter, if current levels are sustained,” Chris Williamson, chief economist at Markit said.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4480 TARGET 1.4500 1.4530 SL 1.4450
  • SELL GBP/USD BELOW 1.4220 TARGET 1.4200 1.4170 SL 1.4250

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

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