Forex Market

2Sep

IForex Market Trading Signals and News – 02 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Euro holds modest gains after euro zone inflation data
  • FOREX – Dollar lower against euro, yen amid fresh weakness in equities
  • FOREX – Aussie slips lower against greenback

AUD/USD
.The Australian dollar was almost unchanged against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia left interest rates unchanged and the release of upbeat Australian data.AUD/USD hit 0.7154 during late Asian trade, the session high; the pair subsequently consolidated at 0.7115. The pair was likely to find support at 0.7067, the low of August 26 and resistance at 0.7174, Monday’s high. In a widely expected move, the RBA held its benchmark interest rate at a record-low 2.00% on Tuesday. Commenting on the decision, RBA Governor Glenn Stevens said the now four-month long pause on rates was “appropriate” given the moderately growing Australian economy. Separately, the Australian Bureau of Statistics reported that building approvals increased by 4.2% in July, beating expectations for a 2.5% rise. Building approvals declined by 5.2% in June, whose figure was revised from a previously estimated drop of 8.2%.

NZD/USD
New Zealand dollar was higher against its U.S. counterpart on Tuesday, but gains were expected to remain limited as investors turned their attention to the Federal Reserve’s policy meeting this month amid heightened expectations for a rate hike. NZD/USD hit 0.6390 during late Asian trade, the session high; the pair subsequently consolidated at 0.6371, up 0.50%.The pair was likely to find support at 0.6316, Monday’s low and resistance at 0.6481, Monday’s high. The greenback had found support after Fed Vice Chairman Stanley Fischer said Friday it was still too early to decide whether to raise interest rates from near zero at the bank’s September meeting. Market participants were looking ahead to the release of U.S. manufacturing data due later in the day, for further indications on the strength of the economy and the possibility of a rate hike this month.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5340 TARGET 1.5360 1.5390 SL 1.5310
  • SELL GBP/USD BELOW 1.5290 TARGET 1.5270 1.5240 SL 1.5320

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

1Sep
Forex Signals

IForex Market Trading Signals and News – 01 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Euro holds modest gains after euro zone inflation data
  • FOREX – Dollar lower against euro, yen amid fresh weakness in equities
  • FOREX – Aussie slips lower against greenback

GBP/USD
The British currency is seen picking up pace gradually versus it’s American peer in the European afternoon, as markets moved past the initial risk-off tone and now await fresh updates from the upcoming US session. The GBP/USD pair trades 0.10% higher at 1.5415, heading for a retest of 1.5437 session highs. The GPB/USD pair keep pushing higher, bouncing-off a brief dip to lows below 1.54 handle as a fresh bid wave seems to have caught the British pound amid lack of fresh fundamentals from the GBP calendar as the UK markets remain closed on summer bank holiday. Moreover, the US dollar remains undermined as falling global equities continue to weigh on the risk sentiment, thereby driving GBP/USD higher. Meanwhile, markets now await US Chicago PMI data due to be released later in the New York session, which will kick-off a data-heavy US calendar for the week ahead.

EUR/USD
The EUR/USD pair starts the week with a slight positive tone, having advanced up to 1.1261 during the Asian session. A stronger Japanese Yen drove the dollar lower across the board, amid falling stocks. Chinese equities are once again under pressure, down 1.5%, as last week intervention optimism seems to be fading. European indexes are struggling around their opening levels, with an increasing bearish potential that should weigh on the greenback if it continues. Germany released its Retail Sales for July, up 1.4% in the month, and 3.3% compared to a year before, which also supported the advance in the EUR.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5436 TARGET 1.5456 1.5486 SL 1.5406
  • SELL GBP/USD BELOW 1.5340 TARGET 1.5320 1.5290 SL 1.5370

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

31Aug
forex-market-hours

IForex Market Trading Signals and News – 31 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – GBP/USD holds near 1-1/2 month lows despite U.K. GDP
  • FOREX – UK and Swiss GDP Continue to Expand in Line with Expectations
  • FOREX – Dollar slips lower on profit-taking, U.S. data ahead

GBP/USD
The GBP/USD pair recovered most losses and tries hard to regain 1.54 barrier in the European afternoon, as markets digest the UK data keeping the pound undermined. The GBP/USD pair trades -0.08% lower at 1.5391, recovering slightly from 1.5364 levels reached post the data release. The cable continues to consolidate to the downside after the pound was dragged to session lows in a delayed reaction to the UK GDP report which showed no revisions to both the quarterly and annual measures of economic growth. However the UK economy kept the pace and grew at the rate of 0.7% between the first and second quarters, and rose 2.6% on a year-on-year basis. This was the tenth consecutive quarter of positive growth, the Office for National Statistics (ONS) informed on Friday. Looking ahead, the US session will attract attention and may direct further USD moves, having major influence on the GBP pair.

EUR/USD
The Euro declined for a third consecutive day against the US Dollar, with prices now aiming at support below the 1.12 figure. A daily close below the 61.8% Fibonacci retracement at 1.1153 exposes the next downside barrier at 1.1021, the 76.4% level. Alternatively, a move back above the 50% Fib at 1.1260 targets the 38.2% retracement at 1.1367. Our long-term bias on the Euro favors weakness. Indeed, the dominant trend has favored the downside since mid-2008. The currently available trading range – the distance between immediate support and resistance – is only 107 pips however. That is smaller than 20-day ATR (143 pips for the last closed candle), which skews risk/reward parameters away from entering a short trade.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5445 TARGET 1.5465 1.5495 SL 1.5415
  • SELL GBP/USD BELOW 1.5330 TARGET 1.5310 1.5280 SL 1.5360

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

28Aug
forex-market-hours

IForex Market Trading Signals and News – 28 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Dollar index edges up to 4-day high ahead of U.S. GDP data
  • FOREX- NZD/USD edges higher but gains seen limited
  • FOREX- Yen weaker after Kuroda remarks, markets focused on China

GBP/USD
The increased bid tone around the US dollar finally sweeps the cable off its feet, now pushing GP/ USD back near session lows below 1.55 handle. The GBP/USD pair trades 0.12% higher at 1.5479, finding stiff barrier at 1.5500. The cable gave up its struggle to reclaim 1.55 handle and trimmed gains, falling further towards the session lows, as the pound finally surrendered to the strengthening US dollar, riding higher on the back of stabilizing global equities and upbeat US durable goods data released in the US last session. Moreover, Chinese markets bouncing today also bolstered the prevailing risk- sentiment, further increasing the demand for the newly pronounced risk currency – the USD. The US dollar index , a virtual measure of greenback’s strength now trades 0.10% higher at 95.38. Markets now shift focus towards the US data due later today which may have major influence on the cable. US Q2 GDP report will be reported along with weekly jobless claims and pending home sales data.

EUR/USD
The bid tone around the EUR/USD pair keeps reducing as we head into the European opening bells, as the greenback pares losses from Asia against its major competitors. While focus shifts back to the US GDP data due to be reported later in the New York session. The EUR/USD pair trades 0.23% higher at 1.1340, retreating from 1.1357 reached in the early Asian trading. The major shed some early gains as the USD bulls seem to regain ground somewhat and resume its previous rally backed by surprisingly upbeat US durable goods orders print. Moreover, ongoing risk sentiment further bolstered by Chinese equities joining the Asian rally also continues to weigh on EUR/USD, restricting further up moves. On Wednesday, EUR/USD erased Monday’s gains entirely and dropped below 1.13 barrier after the US dollar jumped following the release of positive US durable goods data and also tracking stronger US equities performance .Looking ahead, the main currency pair is likely to track USD moves as the New York session holds the much awaited US Q2 GDP figures while the Jackson Hole Symposium will also remain in focus.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5510 TARGET 1.5530 1.5560 SL 1.5480
  • SELL GBP/USD BELOW 1.5160 TARGET 1.5140 1.5110 SL 1.5190

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

27Aug
forex-trading3

IForex Market Trading Signals and News – 27 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Euro falls to session lows against dollar
  • FOREX – Dollar rises broadly against other majors
  • FOREX – Aussie slips lower vs. broadly stronger greenback

GBP/USD
The GBP/USD pair dropped to 1.5650 raising questions on whether the breakout from the multi-week range of 1.5460-1.5690 was a bull trap. The spot turned lower from the 7-week high of 1.5819 seen on Tuesday after China’s rate cut pushed the markets into stabilization mode. The USD was ditched on Monday, leading to an upside breakout in the GBP/USD pair from the multi-week range of 1.5460-1.5690 levels. The focus now shifts to the US durable goods figure for July. The market expects the headline figure to print at -0.4% from June’s 3.4%. However, the markets would be more interested to see if core durable goods have ticked higher.

EUR/USD
The single currency is losing further ground vs. the greenback on Wednesday, pushing EUR/USD to test session lows in the mid- 1.1400s. The offered tone around EUR is picking up pace in the European midday, extending the pair’s correction lower after hitting daily highs in the 1.1560 region in early trade. Spot is trading lower following the decision of the PBoC to pump almost $22 billion into the financial system via SLO, in order to revitalize further the domestic economy. Next of relevance in the pair will be US Durable Goods Orders, preceding the speech by Fed’s W.Dudley. Market consensus sees orders to have contracted at a monthly pace of 0.4% during July.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5560 TARGET 1.5580 1.5610 SL 1.5530
  • SELL GBP/USD BELOW 1.5430 TARGET 1.5410 1.5380 SL 1.5460

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

26Aug
forex-trading3

IForex Market Trading Signals and News – 26 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Sterling at 7-week highs but rate hike uncertainty caps gains
  • FOREX – AUD/USD rises off previous session’s 6-year trough
  • FOREX – NZD/USD edges higher, recovers from China turmoil

GBP/USD
The sterling remains on the positive footing vs. the dollar on Tuesday, lifting GBP/USD to the 1.5800 neighbourhood. The pair is advancing for the third consecutive week so far, propped up by expectations of a BoE rate hike sooner than market expectations, while on the other hand, investors continue to push back the timing of a rate hike by the Federal Reserve. Ahead in the session, US New Home Sales, Market’s Services PMI and Consumer Confidence will dictate the USD’s dynamics, while the most relevant release in the UK economy will come on Thursday with the flash Q2 GDP figures.

EUR/USD
The EUR moved notably higher at the start of the week and in the process has taken out key levels against both the pound sterling and US dollar. The euro to dollar conversion hit a best of 1.1714 – levels not seen since January 2015. The euro to pound sterling exchange rate meanwhile hit a high at 0.7422. The UK currency has declined against the euro for a third consecutive week (the first time that has happened since March/April) and one consequence of this ongoing weakness is that it has broken down through its short-term uptrend (and 50-day moving average).

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5720 TARGET 1.5740 1.5770 SL 15690
  • SELL GBP/USD BELOW 1.5700 TARGET 1.5680 1.5650 SL 1.5730

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

25Aug
Forex Signals

IForex Market Trading Signals and News – 25 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Emerging market currencies drop as China turmoil spreads
  • FOREX – Dollar drops to 2-month lows on growth concerns
  • FOREX – Yen, euro rally as selloff in China escalates

GBP/USD
The bid tone surrounding the GBP/USD pair remains untouched in the European session, as the pound reversed early losses and remains firmer versus the US dollar amid risk-off market profile. The GBP/USD pair trades 0.16% higher at 1.5718, having posted a high at 1.5727 and a low at 1.5631. The cable manages to hold gains amid risk-off sentiments fuelled by China worries while broadly lower US dollar on fading Sept rate hike expectations after the recent dovish FOMC minutes. However, falling oil prices continue to weigh on UK’s mining and energy sector, keeping the upside in GBP/USD restricted. While markets completely shrugged off upbeat growth forecasts by CBI on the UK economy. The UK economy is estimated to rise 2.6% this year, before accelerating further to 2.8% next year, the Confederation of British Industries (CBI) said on Monday. Both figures are higher than its previous estimates.

EUR/USD
The unwinding of the carry trades amid risk aversion appears to have failed to push the EUR/USD pair above 1.15 levels for the second time yesterday. An attempt to take out 1.15 failed in the Asian session leading to a 80-pip fall to 1.1420. It was followed by a rebound to 1.15 on the back of a sell-off in the European stocks. However, the spot failed to take out 1.15 once again may be since the major stock markets in the Europe have stabilized around the daily lows. The pair now trades around 1.1470, leading to a double top formation with the neckline at 1.1420 on the intraday technical charts. Another attempt at 1.15 could be seen in case the US equity futures point to a more intense risk aversion on the Wall Street.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5790 TARGET 1.5810 1.5840 SL 1.5760
  • SELL GBP/USD BELOW 1.5660 TARGET 1.5640 1.5610 SL 1.5690

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

24Aug

IForex Market Trading Signals and News – 24 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Currency Wars Escalate As China’s Move Triggers a Chain Reaction
  • FOREX- Greek Forex Brokers Open for Business Despite Ongoing Restrictions
  • FOREX- Aussie slumps as Caixin China flash PMI weaker than expected

GBP/USD
The near-term breakout in GBP/USD may gather pace during the last full-week of August should the key speeches by central officials point to a tightening race between the Bank of England (BoE) and the Federal Reserve to normalize monetary policy. The sterling is posting marginal losses vs. the greenback on Friday, with GBP/USD re-visiting session lows in the 1.5680. The upside in GBP seems to have run out of steam around 1.5720, or multi-week tops, fuelled by the generalized offered tone surrounding the dollar and increasing expectations of a rate hike by the BoE sooner than market currently estimates. In the data space, UK’s Public Sector Net Borrowing came in at £2.07 billion vs. £2.40 billion initially anticipated. In the US, Market’s manufacturing PMI is due later, with consensus pointing to a slight improvement to 54.0 for the current month vs. July’s 53.8.

EUR/USD
EUR/USD soared more than 1% for the second consecutive session to move to its highest level in nearly two months, amid a massive sell-off in equity markets worldwide as concerns of a recession in China mounted. The currency pair traded between a range of 1.1229 and 1.1389 before settling at 1.1384, up 0.0144 or 1.28% on Friday’s session. The euro closed higher against the dollar for the third straight session, moving to its highest versus its American counterpart since late- June. While the pair has remained in a holding pattern between 1.08 and 1.14 for the majority of 2015, it is by roughly 4% since the start of the summer. Stocks around the world have suffered a massive sell-off since Wednesday afternoon when the Federal Open Market Committee rattled markets with the release of relatively dovish minutes from its July meeting, which provided indications that persisting weakness in the economy could prompt it to delay an interest rate hike beyond September

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5725 TARGET 1.5745 1.5775 SL 1.5695
  • SELL GBP/USD BELOW 1.5600 TARGET 1.5580 1.5550 SL 1.5630

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

21Aug
forex-trading3

IForex Market Trading Signals and News – 21 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Emerging currencies hit by growth fears after Fed minutes
  • FOREX- Turkish lira, Russian ruble sink to new lows against U.S. dollar
  • FOREX- Sterling falls to session lows after UK retail sales disappoint

GBP/USD
A 0.4% rebound in U.K. Retail Sales may heighten the appeal of the British Pound and fuel the near-term breakout in GBP/USD as it puts increased pressure on the Bank of England (BoE) to raise the benchmark interest rate off of the record-low. Positive data prints coming out of the U.K. economy may highlight a tightening race between the BoE/Fed to normalize monetary pol- icy, and GBP/USD may continue to retrace the decline from July 2014 should the fundamental developments spur a growing dissent within the Monetary Policy Committee (MPC). Stronger wage growth paired with the expansion in private-sector credit may boost household spending in the U.K., and a strong rebound in retail sales may generate fresh monthly highs in GBP/USD as market participants ramp up expectations for a BoE rate hike.

EUR/USD
EUR/USD recovered from lows reached just ahead of 1.11 barrier and posts modest gains the European morning, as the traders digest the Greece-ECB repayment headlines amid a data-light EUR docket. Focus now shifts back towards a host of US data flow due later yesterday. The EUR/USD pair trades 0.15% higher at 1.1136, clinging to 1.100 levels. The main currency pair erased losses and turned back in the green territory as the strengthening EUR/GBP cross on UK retail sales miss continues to push EUR/USD higher. Moreover, renewed optimism surrounding Greece after the nation made a EUR 3.4 billion loan repayment to the ECB, also boosted the European currency higher across the board Meanwhile, markets now await a series of US economic releases due later today for further momentum on the pair. US weekly jobless claims, existing home sales and Philly Fed manufacturing index will be on the cards.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5710 TARGET 1.5730 1.5760 SL 1.5680
  • SELL GBP/USD BELOW 1.5590 TARGET 1.5570 1.5540 SL 1.5620

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

20Aug

IForex Market Trading Signals and News – 20 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Sterling remains supported on rate hike expectations
  • FOREX – Dollar eases lower before U.S. inflation data, Fed minutes
  • FOREX – Yen up slightly as July trade data shows solid export gains

GBP/USD
The British pound faced rejection at 1.57 handle and trimmed gains versus the US dollar in the mid-European session, keeping GBP/USD in the upper band of 1.56 barrier, as the pound stands resilient to the broad based US dollar recovery ahead of US data, which is anticipated to add to the recent USD strength. The GBP/USD pair trades 0.12% higher at 1.5679, having posted a high at 1.5697 and a low at 1.5660. The cable remains better bid driven by expectations of a BOE rate hike following upbeat UK Core CPI on Tuesday, although gains are somewhat capped by the anticipated USD strength, supported by US data. Markets will be watching closely US session which offers the latest US CPI numbers for July as well as the Federal Open Market Committee (FOMC) minutes, with both expected to confirm the recent upsurge in the US dollar. Meanwhile, the US dollar index, a virtual gauge of greenback’s strength, now recovers losses and trades -0.07% lower at 96.92.

EUR/USD
A bout of selling interest has hit the euro on Wednesday, now dragging EUR/USD to test the lower bound of the range around 1.1035/30.The pair has fully faded the initial spike to fresh peaks near 1.1080, giving away more than 50 pips albeit still keeping daily gains in the 1.1030/35 band. While market participants keeping an eye on the Bundestag vote on the Greek bailout, data in the euro bloc showed the Current Account surplus rose to a seasonally adjusted €25.4 billion during June, up from €18.0 billion .Next on tap, inflation figures in the US economy are due ahead of the FOMC minutes. Prior surveys expect core consumer prices to have risen 1.8% on a yearly basis while headline prices would have advanced 0.2% YoY.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5710 TARGET 1.5730 1.5760 SL 1.5680
  • SELL GBP/USD BELOW 1.5665 TARGET 1.5645 1.5615 SL 1.5695

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

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