Forex Market

3Feb
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IForex Market Trading Signals and News – 03 February 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD drops after RBA holds rates
  • Forex -NZD/USD moves lower amid growth concerns
  • Forex – Yen moves higher as weak oil hits market sentiment

EUR/USD
The EURUSD pair achieved new breach to 1.0890 and attempts to build support base above it, which reactivates the correctional bullish scenario on the intraday and short term basis, opening the way to achieve gains that its targets begin at 1.1005 and extend to 1.1120, which represents 61.8% Fibonacci of the last bearish wave that appears on image, which hints the importance of monitoring the price behavior when reaching this level, due to its importance to detect the next destination on the longer term basis.The EMA50 supports the expectations to rise in the upcoming sessions, while stochastic negativity might cause some sideways fluctuation before resuming the waited bullish bias, which will remain valid and active unless breaking 1.0890 level and holding below it.

GBP/USD
The pound fell to session lows against the dollar on Tuesday after data showing that activity in the U.K. construction sector slowed to a nine-month low in January, indicating a subdued start to the year in 2016.GBP/USD hit lows of 1.4328 and was last at 1.4358, off 0.51% for the day. The Markit U.K. construction purchasing managers’ index fell 55.0 last month from December’s 57.8. Economists’ had expected a more modest decline to 57.5.Softer new business growth acted as a brake on output growth and staff hiring at the start of 2016, with job creation easing to its slowest for almost two-and-a-half years.Construction firms reported the lowest business confidence since December 2014. The data came one day after a similar survey showing that U.K. factory activity grew at the fastest rate in three months in January, but new export orders fell as the strong pound weighed and firms cut staffing levels.\

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4370 TARGET 1.4390 1.4420 SL 1.4340
  • SELL GBP/USD BELOW 1.4300 TARGET 1.4280 1.4250 SL 1.4330

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

29Jan

IForex Market Trading Signals and News – 29 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar steady against rivals after Fed statement
  • Forex -Sterling hits day’s highs on U.K. GDP report
  • Forex – Steadier oil helps Aussie, kiwi after Fed statement

EUR/USD
EUR/USD, is steady on Thursday, as the pair trades at the 1.09 line in the European session. In economic news, currency markets did not display much reaction to the Federal Reserve, which maintained interest rate levels and issued a cautious policy statement. Later in the day, Germany will publish Preliminary CPI, and the US releases Core Durable Goods and Unemployment Claims. On Friday, there are key events, Eurozone CPI and US Advance GDP. The pair kept the composure after January’s data in the euro area showed Industrial Confidence dropped to 3.2, Business Climate fell to 0.29, Service Sentiment has come in at 11.6 and Economic Sentiment printed 105.0, all of them below expectations. On a more optimistic side, Consumer Confidence matched estimates at -6.3.In the meantime, spot has managed to clinch highs near 1.0930, albeit losing some pips afterwards, all backed by a softer tone in the greenback.

GBP/USD
The pound rose to the day’s highs on Thursday after figures showing that the U.K. economy grew in line with expectations in the fourth quarter, but the annual rate of growth slowed to the weakest in three years. GBP/USD rose 0.63% to 1.4324 from around 1.4253 ahead of the report. The Office for National Statistics said fourth quarter gross domestic product grew 0.5%, matching forecasts after growth of 0.4% in the three months to September.The service sector, which accounts for around 80% of GDP, grew by 0.7% in the last quarter, but the production sector shrank by 0.2%, with manufacturing output flat. Construction output fell 0.1%, the ONS said.The U.K. economy grew at an annual rate of 1.9% in the three months to December, slowing from 2.1% in the third quarter and the smallest increase since early 2013.

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.

28Jan
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IForex Market Trading Signals and News – 28 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD rises to 2-week highs on Australian inflation data
  • Forex -NZD/USD slides lower ahead of Fed, RBNZ statements
  • Forex – Dollar treads water ahead of Fed statement

EUR/USD
EUR/USD, is showing marginal movement on Wednesday, as the pair trades at 1.0870 in the European session. In economic news, German Consumer Climate posted a strong reading of 9.4 points, within expectations. In the US, the Federal Reserve will release a policy statement and set the benchmark interest rate for January.Fresh offers came-in after the pair failed to sustain above the hourly 200-MA seen at 1.0873 levels. The pair had spiked to 1.0883 after the European stocks dropped around 0.80% in early trading. However, equities recovered losses and weighed over the common currency. No first tier data is due for release in the Eurozone. Hence, the pair remains at the mercy of the action in the equity markets as we head towards the FOMC rate decision. “Draghi’s dovish policy signal should understandably cap EUR into the ECB’s Mar 10 policy meeting, the pair unlikely to make a serious dent at 1.10 if at all in coming weeks”.

GBP/USD
The GBP/USD pair trades -0.31% lower at fresh session lows of 1.4306, having faced strong offers near 1.4350 region. The major reverses a part of yesterday’s rally and remains vulnerable as the slide in the oil prices refuelling risk-off trades across the financial markets and almost killed the demand for risk currencies such as the GBP. The cable remains little affected by the expectations of an upbeat GDP print due tomorrow and keeps the offered tone intact as long as oil price action continues to dominate markets. On Tuesday, GBP/UD rallied to weekly highs near 1.4370 and completely ignored the dovish comments from BOE Governor Carney at his testimony in London. Carney noted that conditions are not right for a rate hike, while he also added that BOE could cut rates if necessary.Attention now remains on the Fed decision due later today for further momentum on the major.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4340 TARGET 1.4360 1.4390 SL 1.4310
  • SELL GBP/USD BELOW 1.4380 TARGET 1.4360 1.4330 SL 1.4410

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

27Jan
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IForex Market Trading Signals and News – 27 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -NZD/USD moves higher but gains capped
  • Forex -Dollar edges down but close to recent highs; Fed, BOJ in focus
  • Forex -AUD/USD edges up despite disappointing NAB report

EUR/USD
The EUR/USD pair trades 0.20% higher at fresh session highs of 1.0819, heading gradually towards hourly 50-SMA at 1.0841. The main currency extends its consolidative mode into early Europe and hovers near session tops, gathering pace for further upside towards 1.0850 region. With the Asian equities paring gains, the risk-on moods appear to have waned a bit and hence, lift the demand for the funding currency euro. Moreover, the gains in the EUR/USD pair can be also partly attributed to a broadly lower USD as well as to the extension of the post-ECB correction. Last week, Attention now remains on the German IFO surveys to provide fresh incentives on the EUR moves, while ECB Chief Draghi’s speech due later in the NY session will be closely eyed.

GBP/USD
The GBP/USD pair trades almost unchanged at 1.4267, quickly reversing a dip to lows at 1.4235, where 5-DMA coincides. The pound manages to recover ground somewhat against its American counterpart and now looks to reclaim 1.43 handle as risk-off moods appear to ease amid stabilizing European stocks. While the oil prices also trim losses and added to the renewed optimism in the markets.Moreover, broad based US dollar weakness continues to keep the downside restricted in the GBP/USD pair. While the recovery looks fragile on the back of strengthening EUR/GBP cross, which hovers near 0.76 handle, recording a 0.30% gain on the day.Next on tap, BOE Carney’s speech due tomorrow will take centrestage before the crucial FOMC statement due to be published on Wednesday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4310 TARGET 1.4330 1.4360 SL 1.4280
  • SELL GBP/USD BELOW 1.4235 TARGET 1.4215 1.4185 SL 1.4265

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

22Jan
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IForex Market Trading Signals and News – 22 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -NZD/USD holds steady amid oil rout concerns
  • Forex -Dollar steady against yen, euro looking to ECB
  • Forex -AUD/USD slips lower as Australia data, oil rout weigh

EUR/USD
The EUR/USD is almost unchanged on Thursday, with EUR/USD wobbling around the 1.0900 figure so far. The pair is now looking to consolidate the breakout of the 1.0900 handle ahead of the opening bell in London, bolstered by some risk-off trade coming back to the markets. In the meantime, spot navigates unaltered the 1.07-1.10 range waiting for today’s ECB meeting. Market expectations of any change of the monetary policy remain close to zero, although Draghi’s press conference could bring in some volatility, especially amidst the collapse of crude oil prices and the stagnant inflation figures in the euro region. “The recent build-up in the short-term upward momentum fizzled out with the rapid drop from the high of 1.0975 yesterday”.“It appears that EUR is still trapped within a 1.0800/1.0990 range for now”.

GBP/USD
The pound touched a fresh seven-year low against the dollar on Wednesday after data showing that the U.K.unemployment rate fell unexpectedly in November but pay growth slowed, indicating that interest rates are likely to remain on hold for now. GBP/USD hit lows of 1.4126, the weakest since March 2009 before recovering slightly to trade at 1.4164, little changed for the day. The Office for National Statistics said the unemployment rate in the U.K. fell to 5.1% in the three months to November, its lowest since the three months to January 2006. Analysts had expected the jobless rate to hold steady at 5.2%.The number of people employed rose by 267,000, the third biggest increase on record.But data on pay growth was weaker the report showed, indicating that the BoE will wait for longer before hiking interest rates. Average weekly earnings excluding bonuses, wages rose by 1.9%, compared to expectations of a 1.8% rise. This was the weakest growth since February last year.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4200 TARGET 1.4220 1.4250 SL 1.4170
  • SELL GBP/USD BELOW 1.4150 TARGET 1.4130 1.4100 SL 1.4180

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

21Jan
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IForex Market Trading Signals and News – 21 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD re-approaches 6-year lows after Australian data
  • Forex – NZD/USD falls to 4-month lows in cautious trade
  • Forex -Dollar hits 1-year lows vs. yen as risk aversion mounts

EUR/USD
The EUR/USD dipped 26 points to trade at 1.0867 after Chinese data sparked a bit of a run to safety but avoided the pound ahead of the ECB meeting on Thursday. There was a steady flow of data in the Eurozone today including inflation, PPI, German ZEW data. Overall data met expectations but forecasts had been downgraded and traders were hoping to see a bit better than expected inflation data to help the ECB get away with no additional stimulus. Meanwhile, EUR/USD rose 0.23% to trade at 1.0933. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.16% at 99.00.Germany’s consumer price inflation reached its lowest level since 2009, data from Destatis revealed Tuesday. Inflation eased to 0.3 percent in 2015 from 0.9 percent in 2014. The year-on-year rate of price increase has been declining since 2011, Destatis said.

GBP/USD
The pound touched a fresh seven-year low against the dollar on Wednesday after data showing that the U.K.unemployment rate fell unexpectedly in November but pay growth slowed, indicating that interest rates are likely to remain on hold for now. GBP/USD hit lows of 1.4126, the weakest since March 2009 before recovering slightly to trade at 1.4164, little changed for the day. The Office for National Statistics said the unemployment rate in the U.K. fell to 5.1% in the three months to November, its lowest since the three months to January 2006. Analysts had expected the jobless rate to hold steady at 5.2%.The number of people employed rose by 267,000, the third biggest increase on record.But data on pay growth was weaker the report showed, indicating that the BoE will wait for longer before hiking interest rates.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4180 TARGET 1.4200 1.4230 SL 1.4150
  • SELL GBP/USD BELOW 1.4160 TARGET 1.4140 1.4110 SL 1.4190

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

20Jan
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IForex Market Trading Signals and News – 20 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD rises after Chinese data, gains seen limited
  • Forex – NZD/USD edges higher after China GDP
  • Forex -Dollar higher against safe haven yen after China GDP data

EUR/USD
The euro remained slightly lower against the dollar on Tuesday after a report showing that German economic sentiment deteriorated this month, knocked by recent turmoil in global financial markets. EUR/USD was last at 1.0869, off 0.21% for the day from around 1.0873 earlier. The ZEW institute said its index of German economic sentiment fell from 16.1 in December to 10.2 in January, as slowing growth in China and other major world economies dimmed the outlook for the euro area’s largest economy. This was still higher than analysts forecast for a reading of 8.2. The ZEW index of current conditions rose to 59.7 from 55.0 in December, the highest level since September. A separate report confirmed that the annual rate of inflation in the euro area came in at 0.2% in December, in line with forecasts.On a month-over-month basis consumer prices were flat.

GBP/USD
The pound hit the day’s highs against the dollar on Tuesday after data showing that the annual rate of inflation in the U.K. rose at the fastest rate in almost a year in December. GBP/USD rose to 1.4340 from around 1.4317 ahead of the report.The U.K. consumer price index rose 0.1% in December from a month earlier, matching forecasts, the Office for National Statistics said. The annual rate of inflation rose 0.2%, ahead of forecasts of 0.1% and the highest since January 2015. Transport costs, particularly air fares, and to a lesser extent motor fuels, were the main contributors to the rise, the ONS said. The data comes at the end of a year which saw consumer prices inflation hover close to zero, prompting investors to push back expectations on the timing of a rate hike by the Bank of England.Investors were looking to the speech for any indications on the timing of a possible rate hike.Sterling also touched session highs against the euro, with EUR/GBP falling to 0.7584 from 0.7599 earlier.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4350 TARGET 1.4370 1.4400 SL 1.4320
  • SELL GBP/USD BELOW 1.4280 TARGET 1.4260 1.4230 SL 1.4310

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

19Jan
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IForex Market Trading Signals and News – 19 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -NZD/USD holds steady in late trade
  • Forex -AUD/USD climbs higher after China move
  • Forex -Dollar rises against yen as yuan firms up

EUR/USD
The EUR/USD pair trades around the daily lows as the European stock markets opened on a positive note. The currency pair recovered slightly from the 5-DMA support located at 1.0875; however, the recovery is being capped on account of a 0.7% gain in the Euro Stoxx 50 index. As of now, the European investors have turned a blind eye towards the sharp drop in oil prices. The positive action in equities is capping demand for safe haven and funding currencies. The shared currency remains at the mercy of the overall market sentiment amid an empty economic calendar in Europe and US. The volumes may drop later as the US markets are closed on account of Martin Luther King holiday. The pair currently trades at 1.0880. The immediate resistance is seen at 1.0890 (38.2% of 1.1495-1.0517), above which the spot could test 1.0943 (Thursday’s high). On the other hand, a break below 1.0875 (5-DMA) would expose 1.0813

GBP/USD
It seems the sterling is recovering the smile today, lifting GBP/USD back above the 1.4300 handle to the 1.4315/20 band.The pair has managed to leave the area of multi-year lows seen last week around 1.4240, advancing at the beginning of the week to daily highs beyond the 1.4300 handle. The pair’s oversold condition following the recent sharp retracement might be acting as the main driver behind today’s correction, amidst a context favourable to the greenback and speculative positioning still net-short GBP.The pair is now up 0.37% at 1.4305 and a break above 1.4490 (downtrend from 1.5232) would open the door to 1.4626 (20-day sma) and finally 1.4947 (high Dec.24). On the flip side, the immediate support lines up at 1.4247 (low Jan.15) ahead of 1.4230 (monthly low Apr.2010) and then 1.4049

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4300 TARGET 1.4320 1.4350 SL 1.4270
  • 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.

18Jan
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IForex Market Trading Signals and News – 18 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Aussie, kiwi, Canadian dollars dive 1 percent or more on oil price tumble
  • Forex -Dollar remains broadly lower on U.S. economic reports
  • Forex -USD/CAD hovers near 13-year highs on oil rout

EUR/USD
EUR/USD surged to near one-month highs, as a wave of soft U.S. economic data potentially increased the probability that the Federal Reserve could delay its next interest rate hike beyond the first quarter of 2016. The currency pair traded in a broad range between 1.0855 and 1.0984 before settling at 1.0916, up 0.0051 or 0.47% on the session. The euro ended the week virtually flat against the dollar, down 0.15%. After tumbling approximately 10% against the dollar in 2015, the euro is up approximately 0.5% against its American counterpart over the first two weeks of the new year. The euro last eclipsed 1.10 versus the dollar on December 16. EUR/USD likely gained support at 1.0538, the low from December 3 and was met with resistance at 1.1352, the high from Oct. 22.The U.S. Dollar Index, which measures the strength of the greenback versus a basket of six other major currencies, lost more than 0.40% to an intraday low of 98.42, before closing at 98.99. The index remains near 12-month highs from December, when it eclipsed 100.00.

GBP/USD
The pound dropped to fresh five-and-a-half year lows against the U.S. dollar on Friday, as sentiment remained under pressure amid an ongoing oil rout and as investors awaited the release of U.S. economic reports later in the day.GBP/USD hit 1.4339 during European morning trade, the pair’s lowest since May 2010; the pair subsequently consolidated at 1,4357, sliding 0.39%.Cable was likely to find support at 1.4229 and resistance at 1.4445, Thursday’s high.Investors remained cautious after Brent crude, the global benchmark, fell below the $30 per barrel threshold on Friday to $29.93, the lowest level since 2004, pressured lower by a global supply glut and fears of a slowdown in China.Meanwhile, the dollar remained supported after the U.S. Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits in the week ending January 8 increased by 7,000 to 284,000 from the previous week’s total of 277,000.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4270 TARGET 1.4290 1.4330 SL 1.4230
  • SELL GBP/USD BELOW 1.4200 TARGET 1.4180 1.4140 SL 1.4240

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

15Jan
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IForex Market Trading Signals and News – 15 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD edges higher on positive Australian jobs data
  • Forex -NZD/USD falls to 2-month lows as sentiment wanes
  • Forex -Dollar rises as Brent oil drops below $30

EUR/USD
The EUR/USD pair remains capped below 1.09 handle, with several attempt to the upside sold-off near the last, as risk-aversion dissipates amid Asian stocks recovery. The EUR/USD pair trades modestly flat at 1.0878, failing another attempt to conquer 1.09 handle. The main currency pair continues to consolidate the overnight recovery below 1.0900 levels and now awaits fresh impetus from the European open, to confirm further upside. The gains in the EUR/USD pair remains capped on the back of healthy recovery seen in the Asian equities, with the Chinese indices turning in the green zone and the Nikkei pared losses at close. Moreover, the minor pullback in oil prices also bettered the risk conditions a bit, weighing negatively on the major.Markets now await the second-tier in the German WPI ahead of the European open, while the US jobless claims and Fed’s Bullard’s speech will be closely eyed in the NY session.

GBP/USD
The GBP/USD pair sold-off yen another attempt towards hourly 50-SMA placed at 1.4432 and drifted a tad lower as traders remain on the backfoot ahead of the BOE’s ‘Super Thursday’. The GBP/USD pair trades almost unchanged at 1.4411, retreating quickly from fresh session highs posted at 1.4424 few minutes ago. The cable surrenders gains and once again pushes towards 1.44 handle as the ongoing weakness in the European stocks curbs investors’ appetite for riskier currencies such as the GBP. While the cable remains supported on the back of a renewed bout selling interest seen around the greenback against its six major rivals. The US dollar index now drops to fresh session lows of 99.82, down -0.10% versus a 0.16% rise seen earlier today.Moreover, markets refrain from placing big bets on the GBP/USD ahead of the BOE rate decision and minutes due to be published later this session. The BOE policy makers are expected to vote 8-1 in favour of keeping rate unadjusted at record low of 0.50% as also the asset purchases program unchanged.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4430 TARGET 1.4450 1.4480 SL 1.4000
  • SELL GBP/USD BELOW 1.4400 TARGET 1.4380 1.4350 SL 1.4470

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

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