Forex Market

21Jan
forex-market-hours

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
forex-trading3

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
forex-trading3

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
forex-trading3

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
forex-market-hours

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.

14Jan
Forex Signals

IForex Market Trading Signals and News – 14 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD rises on positive Chinese trade data
  • Forex -NZD/USD moves higher as sentiment improves
  • Forex -Dollar rises against euro, yen after China data

EUR/USD
EUR/USD is selling off heavily from the top of a descending channel that has been in play for a month now, with price moving towards the key 50-day simple moving average (SMA) (1.0814) and $1.0808 support levels. The ability to close convincingly below $1.0808 will largely dictate the state of play, with a high likeliness of a strong move lower should that occur. Given the clear downtrend in play throughout this week so far, further downside seems the most likely event, yet given the importance of the $1.0808 level, it seems prudent to await a break first. A close below $1.0808 would point towards $1.0796, $1.0781 and $1.0773 as the next support levels.However, should we see a closed hourly candle above $1.0840, this would point towards a possible rally, with $1.0880 and $1.0905 the next key resistance levels.

GBP/USD
The GBP/USD pair trades 0.13% higher at 1.4468, having reached fresh session highs at 1.4475 last minutes. The GBP bulls regained lost momentum and returned to the positive territory as the risk-on trades dominate Europe on the back of rising European equities. Hence, the persisting risk-sentiment boosts the demand for risk currencies such as the GBP. Moreover, the solid rebound seen in the oil prices on impressive Chinese crude imports, lifts the energy stocks on the UK’s benchmark index, the FTSE 100 and therefore, boosts the sentiment around the cable. The FTSE rallies 1.09% to 5,994. Looking ahead, amid a lack of fresh fundamental triggers for the major later today, markets will closely monitor developments around the oil markets, while the sentiment on the Wall Street will also play a crucial role.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4480 TARGET 1.4550 1.4580 SL 1.4500
  • SELL GBP/USD BELOW 1.4440 TARGET 1.4420 1.4390 SL 1.4470

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

13Jan
Forex trading

IForex Market Trading Signals and News – 13 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar steady in early trade, yuan in focus again
  • Forex -NZD/USD slides lower as focus remains on China
  • Forex -AUD/USD re-approaches 4-month lows on China worries

EUR/USD
The dollar moved lower against the euro on Tuesday, The low yielding euro rose 0.33% against the dollar to 1.0896. Investors also remained concerned over the extent of the economic slowdown in China, following a steep selloff in Chinese stocks and a renewed devaluation in the yuan since the start of the year.Shares in China closed higher on Tuesday, after Beijing stepped up measures to support the yuan. China’s central bank guided the yuan higher for a third day, but uncertainty over Beijing’s currency policy persisted. EUR/USD was little changed at 1.0850.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.08% at 99.00.

GBP/USD
The pound fell to fresh five-year lows against the dollar on Tuesday after data showing that U.K. industrial and manufacturing production dropped sharply in November, adding to concerns over the uneven economic recovery. GBP/USD hit lows of 1.4484, the weakest level since June 2010, down from around 1.4527 ahead of the data.The Office for National Statistics said industrial production fell 0.7% in November from the previous month, compared with forecasts for a flat reading. It was the biggest drop since January 2013. Sterling remained under heavy selling pressure amid concerns that the Bank of England will signal that rates are likely to remain on hold for longer after its policy meeting on Thursday. The pound was lower against the euro, with EUR/GBP rising to 0.39% to 0.7494 from 0.7479 earlier.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4530 TARGET 1.4550 1.4580 SL 1.4500
  • SELL GBP/USD BELOW 1.4480 TARGET 1.4460 1.4430 SL 1.4510

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

12Jan
forex-trading3

IForex Market Trading Signals and News – 12 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar edges higher vs. rivals but gains limited
  • Forex -Euro remains weaker, yen slips lower
  • Forex -Yen eases as yuan stabilizes but China fears persist

EUR/USD
The euro was lower against the dollar on Monday after Friday’s strong U.S. employment report for December and the yen gave up overnight gains, but investors remained wary amid ongoing turmoil in Chinese financial markets.EUR/USD slid 0.31% to 1.0892, still holding above Friday’s lows of 1.0801.The U.S. dollar index, which measures the green- back’s strength against a trade-weighted basket of six major currencies, was up 0.19% to 98.64. The unemployment rate held steady at a seven-and-a-half year low of 5% in December. The report bolstered expectations that the Federal Reserve could raise interest rates at a faster pace this year. Higher U.S. interest rates would make the dollar more attractive to yield-seeking investors.

GBP/USD
The GBP/USD pair trades 0.29% at 1.4566, easing-off session highs reached at 1.4580 levels. Having failed several attempts to take out stiff resistance near 1.4580 region, the cable retreats as the European stocks come slightly under pressure, thus, reducing the demand for risk/ high-yielding currencies such as the GBP. However, the GBP/USD pair finds support from receding US dollar against its major competitor. The USD index pares gains to trade 0.14% higher at 98.60. While a generalized strength seen across the higher yielding currencies such as the AUD, NZD and the CAD, further helps keep the recovery in GBP/USD intact. The U.S. dollar index, which measures the greenback’s strength against a trade weighted basket of six major currencies, was up 0.09% at 98.55.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4570 TARGET 1.4590 1.4620 SL 1.4540
  • SELL GBP/USD BELOW 1.4530 TARGET 1.4510 1.4480 SL 1.4560

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

11Jan

IForex Market Trading Signals and News – 11 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -USD/CAD slips lower but remains near 12-1/2 year peak
  • Forex -Dollar regains strength as China volatility eases
  • Forex -Dollar regains ground vs. yen, euro on PBOC move

EUR/USD
The euro trimmed losses against the U.S. dollar on Friday, but remained under pres- sure as upbeat U.S. jobs data lent support to the greenback and as Chinese markets stabilized. EUR/USD eased off 1.0803, the session low, to hit 1.0872 during U.S. morning trade, still down 0.55%. The pair was likely to find support at 1.0769, Thursday’s low and resistance at 1.0992, the high of December 29.The dollar strengthened broadly after the U.S. Labor Department said the economy added 292.000 jobs in December, beating expectations for a rise of 200.000. The U.S. economy added 252.000 jobs in November, whose figure was revised from a previously estimated 211.000 gain.

GBP/USD
The pound was almost unchanged against the U.S. dollar on Friday, hovering close to a five-year low after the release of downbeat U.K. trade balance data. GBP/USD hit 1.4533 during European morning trade, the session low; the pair subsequently consolidated at 1.4621.Cable was likely to find support at 1.4529, Thursday’s low and a five-year low and resistance at 1.4725, the high of January 5.The U.K. Office for National Statistics said the trade deficit narrowed to £10.64 billion in November from £11.20 billion in October, whose figure was revised from a previously estimated deficit of £11.83 billion.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4550 TARGET 1.4570 1.4600 SL 1.4520
  • SELL GBP/USD BELOW 1.4480 TARGET 1.4460 1.4430 SL 1.4520

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

8Jan
forex-trading3

IForex Market Trading Signals and News – 08 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -AUD/USD drops to 2-month lows after mixed Australian data
  • Forex -NZD/USD bounces off 1-month trough but gains capped
  • Forex -Yen hit 4-1/2 month highs as yuan decline accelerates

EUR/USD
The euro rose to the day’s highs against the dollar on Thursday after data showing that the unemployment rate in the region fell to its lowest level in over four years, while economic sentiment unexpectedly improved last month.EUR/USD hit highs of 1.0807, the most since Monday and was last at 1.0846, up 0.64% for the day. The euro zone’s statistical bureau Euro- stat reported that the unemployment rate in the euro area fell to the lowest level in more than four years in November, dropping to 10.5% from 10.6% in November. It was the third straight monthly decline.Another report showed that euro zone economic sentiment unexpectedly improved in December.A survey by Eurostat and the European Commission showed that economic sentiment in the single currency bloc ticked up to 106.8 in December from November’s 106.1, compared to expectations for an unchanged reading.

GBP/USD
The pound fell to the lowest levels in five-and-a-half years against the dollar on Thursday as market turmoil in China bolstered safe haven demand for the dollar, while uncertainty over a U.K. referendum on European Union membership also weighed.GBP/USD hit lows of 1.4555, the lowest level since June 2010 and was last at 1.4564, off 0.46% for the day.Risk sentiment was hit after China’s yuan weakened further on Thursday, exacerbating fears over the outlook for the world’s second-largest economy. The People’s Bank of China set its official yuan mid-point rate lower compared with Wednesday’s fix.It was the largest daily drop in the midpoint rate since last August, when an unexpected near 2% devaluation of the currency sparked a broad based selloff in financial markets. A weaker yuan would help boost Chinese exports.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4600 TARGET 1.4620 1.4650 SL 1.4570
  • SELL GBP/USD BELOW 1.4560 TARGET 1.4540 1.4510 SL 1.4590

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

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