Forex Market

17Aug

IForex Market Trading Signals and News – 17 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX – Kiwi down as retail sales disappoint in Q2, China ripples eyed
  • FOREX – Dollar edges higher ahead of U.S. data
  • FOREX – EUR/USD almost unchanged ahead of E.Z. data

GBP/USD
The pound held steady against the U.S. dollar in quiet trade on Friday, as expectations for inter- est rate hikes by both the Federal Reserve and the Bank of England continued to lend equal support to the two currencies. The bid tone is now gathering pace around the sterling on Friday, with GBP/US advancing to session tops near 1.5630. The pair is extending its consolidative pattern at the end of the week, navigating the upper band of the weekly range in the low- 1.5600s and coming down from recent tops in the critical resistance at 1.5650. Next of relevance in the pair will come from the US docket, where Producer Prices, the Reuters/Michigan index and Industrial Production area all due later.

EUR/USD
The Euro-Zone’s 2Q Gross Domestic Product (GDP) report may boost the appeal of the single currency and spur fresh monthly highs in EUR/USD as the growth rate is expected to increase 1.3% following the 1.0% expansion during the first three-months of 2015. Despite the European Central Bank’s (ECB) pledge to ‘fully implement’ its quantitative easing (QE) program, data prints pointing to a stronger recovery may encourage the Governing Council to adopt an improved outlook for the region, and the board remains at risk of facing a ‘taper tantrum’ over the medium-term as central bank President Mario Draghi remains confident in achieving the one and only mandate for stability.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5660 TARGET 1.5680 1.5710 SL 1.5630
  • 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.

14Aug
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IForex Market Trading Signals and News – 14 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX-Dollar moves higher as focus returns to U.S. rate hike
  • FOREX- AUD/USD moderately lower, China turmoil subides
  • FOREX- Kiwi slips lower vs. stronger greenback

GBP/USD
The British pound keeps its range play intact, although edges slightly higher in the mid-European session, lifting GBP/USD once again for a test of key barrier near 1.5635 levels. The GBP/USD pair trades 0.10% higher at 1.5629, inching higher towards session highs located at 1.5636. The cable witnessed a fresh bid wave as the GBP bulls try hard to surpass the session highs which could open doors for further upside towards previous highs. However, every attempt to the upside is restricted on the back of broad-based US dollar strength as Sept Fed rate lift-off is back in play. The US dollar index, a virtual gauge of greenback’s strength, now trades 0.34% higher at 96.60.

EUR/USD
Markets are quieter this Thursday, despite that the PBoC once again devalued the reference rate for the renminbi this time by 1.1%. Nevertheless, Asian markets rose, on hopes the Central Bank won’t extend the devaluation much further. European stocks are also on the rise, putting the common currency under pressure, and the EUR/USD pair trades near a daily low established at 1.1106. In Europe, German inflation rose by 0.2% in July 2015, meeting market’s expectations. During the day, the Greek Parliament will vote on the latest agreement between the country and its creditors, getting one step closer to receive its third bailout.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5636 TARGET 1.5656 1.5686 SL 1.5606
  • 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.

13Aug
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IForex Market Trading Signals and News – 13 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Dollar drops against rivals after 2nd yuan devaluation
  • FOREX- Sterling dips after U.K. employment report
  • FOREX- NZD/USD near 6-year trough as yuan devaluation still weighs

GBP/USD
The GBP/USD pair is unable to detach from the 1.5600 price zone, having retraced from a daily high of 1.5604 after the release of the UK employment data, which suggests the labor market is losing pace. More people in Britain is looking for a job, which left the jobless rate at 5.6% in July. Wages, including bonuses, rose 2.4% in its year-on-year reading in the second quarter, compared to the 3.2% printed the previous month. News sent the pair to a daily low of 1.5534, from where the pair bounced back. Another 1.0K expansion in U.K. Jobless Claims may produce headwinds for the British Pound and spur a near-term decline in GBP/USD as it raises the risk of seeing the Bank of England (BoE) further delay its normalization cycle.

EUR/USD
The euro rose to two week highs against the dollar on Wednesday after China devalued the yuan for the second day, as investors continued to unwind euro-funded positions on the Chinese currency. EUR/USD was up 0.67% to 1.1115, the most since July 27. The yuan fell sharply against the dollar for the second straight day on Wednesday after the People’s Bank of China set the yuan’s midpoint rate weaker than at Tuesday’s closing. China devalued its currency by 2% in a surprise move on Tuesday to make its exports more competitive and shore up growth in the flagging economy. The PBOC has described the move as a “one-off depreciation”, based on a new way of managing the exchange rate that better reflected market forces.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5660 TARGET 1.5680 1.5710 SL 1.5630
  • SELL GBP/USD BELOW 1.5530 TARGET 1.5510 1.5480 SL 1.5560

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

12Aug

IForex Market Trading Signals and News – 12 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Yuan in biggest fall since 1994 after surprise devaluation .
  • FOREX- Euro dips after German economic sentiment worsens.
  • FOREX- Dollar eases after initial gains on yuan devaluation .

GBP/USD
The GBP/USD was off 0.15% at 1.5487 in late trade, after falling to two-week lows of 1.5424 earlier. a component of the jobs report that the Federal Reserve has said must rise, ticked up 0.2%, also matching forecasts after stalling in the previous month. The data was seen as underlining expectations for a near-term rate hike. In the past three months the dollar has been boosted by investor expectations that the Federal Reserve will raise short term interest rates in the coming months, possibly as early as September. Thursday’s U.S. retail sales data for a further indication on the durability of the economic recovery. Speeches by Fed officials on Monday will also be in focus. Meanwhile, the U.K. is to release its latest jobs report on Wednesday. Ahead of the coming week, Investing.com has compiled a list of these and other significant

EUR/USD
The EUR/USD was trading at 1.1025, from around 1.1037 ahead of the report .The euro rose to two- week highs against the dollar earlier Tuesday after an unexpected devaluation of the yuan by China’s central bank prompted investors to unwind euro-funded positions on the Chinese currency. The euro hit an 11-day high against the dollar on Tuesday, reversing earlier losses, as investors unwound euro-funded positions on the yuan after China’s central bank surprised markets by devaluing the currency.The euro had earlier fallen to as low as $1.0960 EUR= as the dollar benefited from its status as a relative safe haven, but as investors bought back the single currency, it gained 0.3 percent on the day to trade at $1.1045 by 0833.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5615 TARGET 1.5635 1.5665 SL 1.5585
  • SELL GBP/USD BELOW 1.5450 TARGET 1.5430 1.5400 SL 1.5480

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

11Aug
Forex Signals

IForex Market Trading Signals and News – 11 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Australian, New Zealand Dollars Drop After Soft China Data
  • FOREX- US Fed’s Fischer says low interest rate policy has worked
  • FOREX- Kiwi drops against greenback in quiet trade

GBP/USD
The GBP/USD spot ran into fresh bids after it recovered above key level at 1.5467 (July 24 low) from the session low of 1.5460. Sterling is trading relatively resilient against the USD as we head into the US session. Rising rate hike bets in the US pushed the spot to a low of 1.5460 earlier today, although the pair has managed to move back towards 1.55 levels. The US Treasury yield curve has steepened – long duration yields relatively strong compared to short-duration yields. Moreover, rising rate hike bets are well expressed through a flattened yield curve. Consequently, the USD has pared gains on a steep yield curve. Ahead in the US session, the focus is likely to be on Fed’s Lockhart speech and the resulting action in the 2-yr Treasury yield.

EUR/USD
The single currency is now losing the grip vs. the dollar, dragging EUR/USD to daily lows in the 1.0940 area. The pair remains trading in a choppy mood at the beginning of the week, with gains appearing to be limited by recent tops in the 1.0980/85 band. Spot is losing upside momentum against a backdrop of scarce data releases in both Euroland and the US economy while market participants keep digesting the recent results from the US labour market. Investor’s Confidence tracked by the Sentix Index and the US Labour Market Conditions Index are due later, ahead of the speeches by Fed’s Fischer and Lockhart. As of writing the pair is retreating 0.23% at 1.0940 and a breach of 1.0855 (low Aug.7) would open the door to 1.0848 (low Aug.5) and then 1.0811 (low Jul.11)

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5590 TARGET 1.5610 1.5640 SL 1.5560
  • SELL GBP/USD BELOW 1.5540 TARGET 1.5520 1.5490 SL 1.5570

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

10Aug
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IForex Market Trading Signals and News – 10 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- USD/JPY holds steady near 2-month highs after BoJ statement
  • FOREX- Dollar steady vs. rivals, nonfarm payrolls on tap
  • FOREX- EUR/USD edges higher before U.S. jobs report

GBP/USD
The pound was almost unchanged against the U.S. dollar on Friday, after data showed that the U.K. trade deficit widened less than expected in June, as investors remained cautious ahead of U.S. jobs data due later in the day. GBP/USD hit 1.5524 during European morning trade, the session high; the pair subsequently consolidated at 1.5513.The Office for National Statistics reported on Friday that the U.K. trade deficit widened to £9.18 billion in June from £8.42 billion in May, whose figure was revised from a previously estimated deficit of £8.00 billion. Analysts had expected the trade deficit to widen to £9.30 billion in June. But markets were jittery ahead of the U.S. nonfarm payrolls report due later Friday, which could reinforce expectations for higher interest rates by the Federal Reserve.

EUR/USD
The euro edged higher against the U.S. dollar on Friday, as sentiment on the greenback mildly weakened ahead of the U.S. nonfarm payrolls report due later in the trading session. EUR/USD hit 1.0950 during European afternoon trade, the pair’s highest since August 4; the pair subsequently consolidated at 1.0932, adding 0.09%. Investors remained cautious ahead of the U.S. nonfarm payrolls report due later Friday, which could reinforce expectations for higher interest rates by the Federal Reserve. The dollar had found support after data on Thursday showed that the number of individuals filing for initial jobless benefits in the U.S. in the week ending August 1 rose by 3,000 to 270,000 from the previous week’s total of 267,000.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5650 TARGET 1.5670 1.5700 SL 1.5620
  • SELL GBP/USD BELOW 1.5450 TARGET 1.5430 1.5400 SL 1.5480

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

7Aug
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IForex Market Trading Signals and News – 07 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- GBP/USD trims gains after U.K. data, eyes on BoE statement
  • FOREX- Dollar holds steady in cautious trade ahead of U.S. jobs data
  • FOREX- Kiwi gains ground vs. weaker greenback

GBP/USD
The pound fell to session lows against the dollar on Thursday after the minutes of the Bank of England’s August meeting showed that just one monetary policy committee member voted in favor of a rate hike this month. GBP/USD was down 0.6% to 1.5499 from around 1.5609 ahead of the report. The minutes show eight members were in favor of leaving the key interest rate at a record low of 0.5%. All nine members voted to stand pat on rates in July. Ian McCafferty was the lone dissenter, voting for a quarter percent hike in the benchmark rate for the first time in eight months. The minutes came as a surprise to market participants, who had expected two or possibly even three members of the MPC to back a rate increase this month. It was the first time the minutes were published at the same time as the monthly monetary policy decision.

AUD/USD
The Australian dollar slipped lower against its U.S. counterpart on Thursday, after the release of mixed Australian employment data and as investors continued to eye Friday’s highly-anticipated U.S. non-farm payrolls report. AUD/USD hit 0.7322 during late Asian trade, the pair’s lowest since Tuesday; the pair subsequently consolidated at 0.7336, shedding 0.27%.The Australian Bureau of Statistics reported on Thursday that the number of employed people rose by 38,500 in July, beating expectations for an increase of 10,000. The number of employed people ose by 7,000 in June, whose figure was revised from a previously estimated gain of 7,300. The report also showed that Australia’s unemployment rate ticked up to 6.3% last month from 6.1% in June, whose figure was revised from a previously estimated rate of 6.0%. Analysts had expected an unemployment rate of 6.0% in July.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5512 TARGET 1.5532 1.5562 SL 1.5482
  • SELL GBP/USD BELOW 1.5500 TARGET 1.5480 1.5450 SL 1.5530

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

6Aug

IForex Market Trading Signals and News – 06 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- NZD/USD slips after disappointing N.Z. jobs data
  • FOREX- Dollar at 2-week highs against euro on rate hike view
  • FOREX- Aussie drops against stronger greenback

GBP/USD
The pound held on to modest gains against the dollar on Wednesday after data showing that growth in the U.K. service sector slowed more than expected last month, indicating that the economic recovery may be losing momentum. GBP/USD was 0.09% higher at 1.5576 from around 1.5589 ahead of the data. The Market U.K. services purchasing managers’ index fell to 57.4 in July from 58.5 in June, compared to expectations for a reading of 58.0. Hiring in the sector eased to its slowest pace since March 2014, the report said. Taken together with surveys of the manufacturing and construction sector earlier this week the reading points to economic growth of 0.6% in the third quarter, Market said, down slightly from 0.7% in the three months to June.

EUR/USD
EURUSD slips below triangle swing low of $1.0890/95. After a rather passive start to the week economic-data wise, event risk should pick up quite considerably over the next three days, starting with today’s duo of significant economic data. Of note, the combined outlook the US ADP Employment Change report and the US ISM Services index Employment subcomponent can provide the markets should be thorough enough for traders to get a strong indication of where Friday’s US Nonfarm Payrolls report will land. Accordingly, ahead of Friday, the USDOLLAR Index, which has already shifted back into the topside of its recent bull flag con- solidation, may be eager to press a topside breakout in an attempt to retake the April highs.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5650 TARGET 1.5670 1.5700 SL 1.5620
  • SELL GBP/USD BELOW 1.5535 TARGET 1.5515 1.5485 SL 1.5565

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

5Aug
forex-trading3

IForex Market Trading Signals and News – 05 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Commodity currencies rise, Aussie up after RBA shifts tone
  • FOREX- Dollar edges lower vs. rivals as markets eye U.S. jobs data
  • FOREX- Kiwi climbs higher vs. softer greenback

GBP/USD
GBPUSD has made quite a few attempts to break the resistance at 1.565 and looks to have formed a double top. If this pattern is validated, GBPUSD could see a quick decline down to 1.55165 which marks the measured move of the double top pattern and also forms the major support level that we have noted. On the daily charts, price has been moving sideways but there is a potential ascending triangle pattern being formed with resistance at 1.567. If the lower time frame double top pattern is validated, GBPUSD could see a decline to 1.5516 which could then give way for a test to 1.5324.

AUD/USD
The Australian dollar rallied over 1% to two-week highs against its U.S. counterpart on Tuesday, supported by the release of strong retail sales and trade data from Australia and after the Reserve Bank of Australia left interest rates unchanged. AUD/USD hit 0.7382 during late Asian trade, the pair’s highest since July 23; the pair subsequently consolidated at 0.7377, jumping 1.27%. The RBA decided to hold its benchmark interest rate at 2.00%, in line with expectations. Commenting on the decision, the central bank said that monetary policy needs to be accommodative and that low interest rates are currently acting to support borrowing and spending.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
  • SELL GBP/USD BELOW 1.5505 TARGET 1.5485 1.5455 SL 1.5535

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

4Aug
forex-trading3

IForex Market Trading Signals and News – 04 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Dollar firms up after weak U.S. wage data
  • FOREX- Pound little changed after U.K. factory data
  • FOREX- Aussie holds weaker as China PMI final for July falls

GBP/USD
The pound was slightly lower against the dollar on Monday after data showing that activity in the U.K. manufacturing sector ticked higher last month but remained relatively subdued. Research group Markit said its U.K. manufacturing purchasing managers’ index ticked up to 51.9 last month from 51.4 in June, which was the lowest level in over two years. Economists had expected a reading of 51.6. GBP/USD eased 0.04% to 1.5620 following the report from around 1.5618 earlier. The rate of growth in new orders slowed to a ten-month low Market said, as solid demand from the domestic market contrasted with a further decrease in new export business.

AUD/USD
The Australian dollar edged lower against its U.S. counterpart on Monday, after the release of downbeat job advertisements data from Australia and a weak manufacturing report from China. AUD/USD hit 0.7290 during late Asian trade, the session low; the pair subsequently consolidated at 0.7295, edging down 0.17%. The pair was likely to find support at 0.7232, Friday’s low and a six-year low and resistance at 0.7366, Friday’s high. Data earlier showed that job advertisements in Australia fell 0.4% last month after an increase of 1.2% in June, whose figure was revised from a previously estimated 1.3% gain.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
  • SELL GBP/USD BELOW 1.5570 TARGET 1.5550 1.5520 SL 1.5600

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

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