Forex Market

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.

7Jan

IForex Market Trading Signals and News – 07 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Yen higher after more weak China data, North Korea concerns
  • Forex -NZD/USD hits 1-month lows amid growth, Middle East concerns
  • Forex -AUD/USD drops to 3-week lows in cautious trade

EUR/USD
The dollar edged higher against the eur on Wednesday, as concerns over global geopolitical tensions continued to dampen demand for riskier assets. EUR/USD edged down 0.12% at 1.0734.Investors remained cautious after North Korea confirmed on Wednesday that it had conducted a nuclear test and said that it won’t give up nuclear capability unless U.S. abandons its hostile foreign policy towards the country.Markets were also jittey amid growing tensions between Iran and Saudi Arabia, following the execution of a prominent Saudi Shia cleric. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.10% at 99.56.

GBP/USD
The pound dropped to a nine-month low against the U.S. dollar on Wednesday, after data showed that U.K. service sector activity expanded at a slower rate than expected in December and as market sentiment remained under pressure.GBP/USD hit 1.4620 during European morning trade, the pair’s lowest since April 2015; the pair subsequently consolidated at 1.4638, shedding 0.22%. Cable was likely to find support at 1.4563 and resistance at 1.4725, Tuesday’s high. Research group Markit said its U.K. services purchasing managers’ index fell to 55.5 last month from a reading of 55.9 in November. Analysts had expected the index to dip to 55.6 in December. Meanwhile, investors remained cautious after North Korea confirmed on Wednesday that it had conducted a nuclear test and said that it won’t give up nuclear capability unless U.S. abandons its hostile foreign policy towards the country.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4660 TARGET 1.4680 1.4710 SL 1.4630
  • SELL GBP/USD BELOW 1.4630 TARGET 1.4610 1.4580 SL 1.4660

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

6Jan
forex-trading3

IForex Market Trading Signals and News – 06 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -NZD/USD slips lower as China concerns still weigh
  • Forex -AUD/USD moves higher, recovers from Chinese data
  • Forex -Yen remains stronger against dollar, euro

EUR/USD
The euro extended early losses against the dollar on Tuesday, falling to the day’s lows after data showing that the annual rate of inflation in the euro zone rose less than expected last month.EUR/USD hit lows of 1.0771, the weakest since December 3, down from around 1.0775 ahead of the data.The single currency fell to fresh eight-month lows against the yen, with EUR/JPY falling 1.02% to 128.08.The euro zone’s statistical bureau Eurostat reported that the annual rate of inflation in the region rose just 0.2% in December, matching November’s reading and falling short of forecasts for an increase of 0.3%. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.33% to 99.27, boosted by the weaker euro.

GBP/USD
The pound was trading close to eight month lows against the stronger dollar on Tuesday shrugging off data showing that activity in the U.K. construction sector rebounded in December. GBP/USD was last at 1.4687, off 0.19% for the day and not far from the eight-month low of 1.4662 set on Monday.Sterling remained weaker despite data showing that construction sector activity in the U.K. rebounded last month after slumping to a seven month low in November.The Markit construction purchasing managers’ index rose to 57.8 from November’s 55.3 and ahead of forecasts for a reading of 56.0.“The latest survey indicated a strong degree of optimism about the outlook for 2016, with firms mainly citing a strong pipeline of commercial development projects and new housing starts,” Tim Moore, senior economist at Markit said.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4700 TARGET 1.4720 1.4750 SL 1.4670
  • SELL GBP/USD BELOW 1.4670 TARGET 1.4650 1.4620 SL 1.4700

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

5Jan
forex-trading3

IForex Market Trading Signals and News – 05 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -NZD/USD drops to 2-week lows in risk-off trade
  • Forex -Dollar drops to 2-1/2 month low vs. yen on geopolitical tensions
  • Forex -AUD/USD tumbles to 1-week lows on China PMI

EUR/USD
The dollar was broadly lower against the eur on Monday, as concerns over growth in China and geo- political tensions in the Middle East boosted investor demand for the safe-haven yen and Swiss franc.EUR/USD gained 0.40% to 1.0898.Data earlier showed that China’s Caixin manufacturing purchasing managers’ index fell to 48.2 this month from 48.6 in December, confounding expectations for a rise to 48.9.It was the lowest reading since September and was well below the 50-point level which separates expansion from contraction. The downbeat data added to concerns over slowdown in the world’s second biggest economy. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.39% at 98.39.The index ended 2015 with gains of 8.96% bolstered by the diverging monetary policy stance between the Federal Reserve and other world central banks, particularly the European Central Bank and the Bank of Japan.

GBP/USD
The pound held on to modest gains against the broadly softer dollar on Monday, but remained close to eight-and-a-half month lows after data showing that activity in the U.K. manufacturing sector continued to slow at the end of 2015. GBP/USD was up 0.23% to 1.4770, after falling to overnight lows of 1.4692, the weakest level since April 14.The Markit manufacturing purchasing managers’ index fell to a three-month low of 51.9 from 52.5 in November, compared to forecasts for anuptick to 52.7.New export orders rose at the slowest rate in five months, the report said while factory gate prices fell for the fourth straight month.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, fell 0.55% to 98.22.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4790 TARGET 1.4810 1.4840 SL 1.4760
  • SELL GBP/USD BELOW 1.4740 TARGET 1.4720 1.4690 SL 1.4770

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

4Jan
forex-market-hours

IForex Market Trading Signals and News – 04 January 2016

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar little changed vs. euro, yen ahead of U.S. data
  • Forex -Dollar edges up in holiday-thinned trade
  • Forex -Dollar gains over 9 pct against basket of major rivals in 2015

EUR/USD
The euro fell to a one-week low against the U.S. dollar on Thursday, as investors awaited the release of U.S. data later in the day and as trading volumes became increasingly thin ahead of the New Year holiday on Friday.Heading into the final trading session of the year, volumes were expected to remain light as many traders already closed books, reducing liquidity in the market which could result in exaggerated moves. EUR/USD hit 1.0888 during European afternoon trade, the pair’s lowest since December 23; the pair subsequently consolidated at 1.0890, sliding 0.39%. The pair was likely to find support at 1.0845, the low from December 21 and resistance at 1.0991, the high of December 29.

GBP/USD
The pound held steady against the U.S. dollar on Thursday, hovering close to an eight-month trough as trading volumes became increasingly thin ahead of the New Year holiday.Heading into the final trading session of the year, volumes are expected to remain light as many traders already closed books, reducing liquidity in the market which could result in exaggerated moves.U.K. markets were set to close early at 12:30 PM London time for New Year’s Eve. GBP/USD hit 1.4845 during European morning trade, the session high; the pair subsequently consolidated at 1.4825. Cable was likely to find support at 1.4786, the low of December 29 and resistance at 1.4914, the high of December 29.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4750 TARGET 1.4790 1.4850 SL 1.4690
  • SELL GBP/USD BELOW 1.4660 TARGET 1.4620 1.4560 SL 1.4720

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

31Dec

IForex Market Trading Signals and News – 31 December 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex -Dollar holds steady vs. euro, yen in holiday-thinned trade
  • Forex -GBP/USD almost unchanged, near 8-month low
  • Forex -Dollar edges higher vs. rivals in quiet trade

EUR/USD
The dollar held steady against the euro on Wednesday, as upbeat U.S. data released the day before continued to support but trading volumes remained thin ahead of the New Year holiday. Heading into the final week of the year, trading volumes are expected to remain light as many traders already closed books, reducing liquidity in the market which could result in exaggerated moves. EUR/USD was steady at 1.0930.The dollar strengthened after the Conference Board reported on Tuesday that its consumer confidence index rose to 96.5 in December from 92.6 in November, whose figure was revised from a previously estimated 90.4.The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was steady at 98.27.

GBP/USD
The GBP/USD pair trades 0.12% higher at fresh session highs of 1.4839, having found renewed strength around 1.4815 levels. The cable manages to recover lost ground somewhat and extends its recovery mode above 1.48 handle on the back of risk-on sentiment persisting in Asia spurred by higher global equities. Moreover, mixed US dollar trading against its major competitors also lends support to the much-need pullback in the cable. Meanwhile, the pound is likely to remain pressured heading into the New Year on divergent central banks’ monetary policy outlooks espeially after the surprisingly dovish comments from BOE policy maker Martin Weale last week. Mr. Weale, a BOE hawk, said that the BOE shouldn’t raise rates in 2016 as wage pressures remain subdued.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.4840 TARGET 1.4860 1.4890 SL 1.4810
  • SELL GBP/USD BELOW 1.4780 TARGET 1.4760 1.4730 SL 1.4810

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

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