Forex Market

9Sep

IForex Market Trading Signals and News – 09 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Pound rises to 1-week highs vs. weaker dollar
  • Forex – Dollar moves lower vs. euro, yen with all eyes on Fed
  • Forex – Yen weaker despite GDP, current account better than expected

EUR/USD
The dollar moved lower against the euro and the yen on Tuesday, as uncertainty over the timing of a rate hike by the Federal Reserve mounted ahead of the central bank’s policy meeting scheduled next week. EUR/USD gained 0.42% to trade at 1.1218, the highest level since September 3. Sentiment on the greenback remained vulnerable after Friday’s U.S. jobs report failed to provide much clarity on when the Fed will decide to raise short term interest rates. EUR/USD gained 0.42% to trade at 1.1218, the highest level since September 3. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.38% at 95.77, the lowest level since September 4. Earlier Tuesday, data showed that Japan’s second quarter gross domestic product fell 0.3%, less than the 0.4% expected drop.

GBP/USD
The pound rose to one-week highs against the U.S. dollar on Tuesday, as sentiment on the greenback remained vulnerable ahead of the Federal Reserve’s highly-anticipated policy meeting scheduled next week. GBP/USD hit 1.5389 during European morning trade, the pair’s highest since September 1; the pair subsequently consolidated at 1.5342, gaining 0.42%.Cable was likely to find support at 1.5168, Monday’s low and resistance at 1.5407, the high of September 1. Sentiment on the greenback remained vulnerable after Friday’s U.S. jobs report failed to provide much clarity on when the Fed will decide to raise short term interest rates. Market participants were also lookig ahead to the Bank of England’s upcoming policy statement on Thursday, for further indications on whether or not it plans to raise interest rates in the near future.Sterling was also higher against the euro, with EUR/GBP shedding 0.37% to 0.7283.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5445 TARGET 1.5465 1.5495 SL 1.5415
  • SELL GBP/USD BELOW 1.5370 TARGET 1.5350 1.5320 SL 1.5400

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

8Sep

IForex Market Trading Signals and News – 08 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Dollar edges lower vs. rivals in quiet trade
  • Forex-Kiwi re-approaches 6-year low against greenback
  • Forex – Aussie jumps in Asia on AIG construction, ANZ job ads

EUR/USD
The Australian dollar rose off a six-year trough against its U.S. counterpart on Monday, supported by the release of upbeat job advertisement data from Australia, although hopes for a U.S. rate hike this month continued to lend support to the greenback. AUD/USD hit 0.6949 during late Asian trade, the session high; the pair subsequently consolidated at 0.6930, gaining 0.31%. The pair was likely to find support at 0.6901, Friday’s low and a six-year trough and resistance at 0.7023, Friday’s high. Data earlier showed that job advertisements in Australia increased by 1.0% last month after a 0.5% slip in July, whose figure was revised from a previously estimated 0.4% fall.In the U.S., the Labor Department reported on Friday that the economy added 173,000 jobs last month, slowing after an upwardly revised gain of 245,000 in July. It was the smallest increase in employment in five months and was below expectations for 220,000.

AUD/USD
The bid tone around the GBP/USDpair keeps increasing as we progress towards the European afternoon as markets appear to unwind ahead of BOE Super Thursday scheduled later this week. The GBP/USD pair trades 0.61% higher at 1.5262, retracing from fresh session highs reached at 1.5279. The cable keeps its upbeat momentum intact as markets continue to lock-in gains on their GBP shorts after the recent UK data-led slump with the attention shifting towards UK fundamentals to be reported in the week ahead. The British pound was hammered to fresh four-month lows of 1.5160 versus the US dollar last week following a better US jobs report coupled with a series of weak PMI reports from the UK. Markets now turn their attention towards the latter half of the week especially the ‘Super Thursday’ as trading is expected to be in a narrow range amid a data-dry EUR calendar empty while the US remains closed for the Labor Day holiday.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5300 TARGET 1.5320 1.5350 SL 1.5270
  • SELL GBP/USD BELOW 1.5270 TARGET 1.5250 1.5220 SL 1.5300

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

7Sep
forex-market-hours

IForex Market Trading Signals and News – 07 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex – Yen gains in Asia ahead of U.S. jobs, wages data disappoints
  • Forex – EUR/USD almost unchanged, near more than 2-week lows
  • Forex – GBP/USD falls to fresh 3-month lows, ECB weighs

EUR/USD
The euro was almost unchanged against the U.S. dollar on Friday, hovering close to more than two-week lows as the possibility for further easing measures by the European Central Bank weighed, while markets eyed upcoming U.S. jobs data.EUR/USD hit 1.1116 during late Asian trade, the session low; the pair subsequently consolidated at 1.1129.The pair was likely to find support at 1.1016, the low of August 19 and resistance at 1.1245, Thursday’s high.The single currency came under pressure after the ECB indicated on Thursday that it could expand its quantitative easing program amid increased downside risks to its inflation outlook.The ECB lowered its forecast for growth and inflation, citing oil prices and slowing growth in China.The comments came after the ECB kept its benchmark interest rate at a record-low 0.05%, in line with the consensus expectation.

GBP/USD
The pound fell to fresh three-month lows against the U.S. dollar, as the possibility for further easing measures by the European Central Bank weighed on sentiment and as investors were cautious ahead of the U.S. nonfarm payrolls report due later in the day.GBP/USD hit 1.5214 during European morning trade, the pair’s lowest since June 5; the pair subsequently consolidated at 1.5238, slipping 0.13%. Cable was likely to find support at 1.5188, the low of June 5 and resistance at 1.5314, Thursday’s high. The ECB indicated on Thursday that it could expand its quantitative easing program amid increased downside risks to its inflation outlook. The ECB lowered its forecast for growth and inflation, citing oil prices and slowing growth in China..The comments came after the ECB kept its benchmark interest rate at a record -low 0.05%, in line with the consensus expectation.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5260 TARGET 1.5280 1.5310 SL 1.5230
  • SELL GBP/USD BELOW 1.5155 TARGET 1.5135 1.5105 SL 1.5185

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

4Sep
Forex Signals

IForex Market Trading Signals and News – 04 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex – NZD/USD slips lower in cautious trade
  • Forex – AUD/USD drops near 6-year lows after Australian data
  • Forex – Dollar holds steady, U.S. jobless report on tap

GBP/USD
The GBP/USD pair trades -0.18% lower at 1.5274, bouncing-off lows reached at 1.5241 post the UK data release. The offered tone surrounding the cable reduces as the GBP traders locked-in gains on their shorts after the major fell to fresh three-month lows. While, GBP/USD also attempts recovery as calm spreads across the FX board ahead of the ECB meeting with greenback muted against its major competitors. However, the British currency is likely to remain undermined against the US dollar as the recent series of downbeat UK macro releases continue to sour the sentiment around sterling. Earlier this session, GBP/USD tumbles to the lowest levels in three month after the UK services sector activity worsened in August adding to the recent poor manufacturing and construction PMI reports. Meanwhile, focus now shifts to the upcoming ECB decision ahead of a set of crucial economic releases from the US due later yesterday.

EUR/USD
The EUR/USD pair failed to sustain the EZ PMIs-led gains and retreated to the familiar range near 1.1220 levels as the EUR,GBP traders gear up for the ECB event due later shortly. The EUR/USD pair trades modestly flat at 1.1223, facing rejection at 1.1243 session highs. The major trades in 50 pip narrow range during the European session, awaiting the outcome of the ECB meeting and Draghi’s speech at the press conference. Moreover, persisting risk sentiment further boosted by strengthening European indices, continue to favour the newly crowned risk currency – US dollar, negatively weighing on the EUR/USD pair. Focus now shifts back towards the European Central Bank (ECB) meeting with markets expecting a clear dovish bias from the ECB policymakers in light of the recent financial market turmoil and persisting lower EZ inflation levels. Markets further expect that the central bank may talk down the currency in a bid to combat softer inflation.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5255 TARGET 1.5275 1.5305 SL 1.5225
  • SELL GBP/USD BELOW 1.5215 TARGET 1.5195 1.5165 SL 1.5245

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

3Sep
Forex Signals

IForex Market Trading Signals and News – 03 September 2015

INTERNATIONAL CURRENCY BUZZ :

  • Forex – NZD/USD rises but gains capped by Asia volatility
  • Forex – AUD/USD rises off 6-year lows, but Australia GDP weighs
  • Forex – Dollar rises vs. rivals despite ongoing China concerns

AUD/USD
.The Australian dollar rose off fresh six-year lows against the U.S. dollar on Wednesday, but gains were expected to remain limited as data earlier showed that Australia economy grew at a slower pace than expected in the second quarter.AUD/USD hit 0.7047 during late Asian trade, the session high; the pair subsequently consolidated at 0.7039, rising 0.33%.The pair was likely to find support at 0.6854 and resistance at 0.7156, Tuesday’s high. The Australian Bureau of Statistics reported on Wednesday that the country’s gross domestic product rose 0.2% in the three months to June, compared to expectations for a 0.4% growth rate. Australia’s economy expanded by 0.9% in the first quarter. The data came a day after the Reserve Bank of Australia held its benchmark interest rate at a record-low 2.00%, saying that the now four-month long pause on rates was “appropriate” given the moderately growing Australian economy. Meanwhile, investors remained cautious amid ongoing volatility on Asian equity markets. Shares in Shanghai plunged over 4% at the open of trading on Wednesday.

NZD/USD
The New Zealand dollar was higher against its U.S. counterpart on Wednesday, but continued to hover close to a recent six-year trough as concerns over a global economic slowdown sparked by difficulties in China continued to weigh broadly on sentiment.NZD/USD hit 0.6369 during late Asian trade, the session high; the pair subsequently consolidated at 0.6360, gaining 0.47%.The pair was likely to find support at 0.6244, the low of August 24 and a six-year trough and resistance at 0.6481, the high of August 31.Investors remained cautious amid ongoing volatility on Asian equity markets. Shares in Shanghai plunged over 4% at the open of trading on Wednesday. Market volatility increased after data on Tuesday showed that manufacturing activity in China contracted at its fastest rate in three years in August, while service sector activity also slowed. The weak data fueled fears over a worsening slowdown in the world’s second-largest economy. Australia’s economy expanded by 0.9% in the first quarter.On a yearly basis, Australia’s GDP increased by 2.0% in the second quarter, disappointing expectations for a 2.2% gain.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5350 TARGET 1.5370 1.5400 SL 1.5320
  • SELL GBP/USD BELOW 1.5250 TARGET 1.5230 1.5200 SL 1.5280

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

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.

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