Forex Market

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
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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
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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.

3Aug

IForex Market Trading Signals and News – 03 August 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Dollar remains broadly lower as U.S. data weighs
  • FOREX- EUR/USD rises sharply, amid historically low U.S. wage growth for 2Q
  • FOREX- Commitments of Traders: speculators less bearish on EUR, GBP

EUR/USD
The Euro extended downward against the US Dollar as expected after prices produced a bearish Evening Star candlestick pattern. A daily close below the 38.2% Fibonacci expansion at 1.0888 exposes the 1.0814-18 area (50% level, May 27 low). Alternatively, a move above the 23.6% Fib at 1.0980 opens the door for a challenge of the 14.6% expansion at 1.1036. Prices are too close to support to justify entering short in line with our long-term outlook from a risk/ reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself a preliminary report, the University of Michigan said its consumer sentiment index ticked down to 93.1 in July from 93.3 the previous month, confounding expectations for a rise to 94.0.

GBP/USD
The pound slipped lower against the U.S. dollar on Friday, as demand for the greenback remained supported by the previous session’s second quarter U.S. growth report and as markets eyed upcoming data on U.S. consumer sentiment. GBP/USD hit 1.5550 during European morning trade, the pair’s lowest since July 28; the pair subsequently consolidated at 1.5572, edging down 0.18%. The Commerce Department reported on Thursday that U.S. gross domestic product expanded at an annual rate of 2.3% in the three months to June. First quarter growth was revised up to 0.6% from a previously reported contraction of 0.2%.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
  • 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.

31Jul
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IForex Market Trading Signals and News – 31 July 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Dollar higher after Fed, U.S. GDP data awaited
  • FOREX- US DOLLAR Index Consolidates in Bull Flag Post-FOMC
  • FOREX- US Dollar May Rise as 2Q GDP Data Boosts Fed Rate Speculation

EUR/USD
The advance 2Q U.S. Gross Domestic Product (GDP) report may boost the appeal of the green- back and spark a further decline in EUR/USD as signs of a stronger recovery fuels expectations for a 2015 Fed rate hike. Despite the unanimous vote to retain the current policy in July, a marked rebound in the growth rate may put increased pressure on the Federal Reserve to re- move the zero-interest rate policy (ZIRP) sooner rather than later as the committee remains confident in achieving the 2% target for inflation over the policy horizon Increased production paired with the pickup in building activity may encourage a strong GDP print, and a faster rate of growth may heighten the bllish sentiment surrounding the greenback as it boosts interest rate expectations.

GBP/USD
The bid tone on the GBP/US ensured the spot recovered above 1.56, but the bulls are struggling to extend gains above 1.5630 levels. The spot is trading above its hourly 50-MA located at 1.5613, but the offers around 1.5623-1.5630 is making the life difficult for the bulls. Still, the British Pound is one of the strongest major currencies today as the slightly hawkish tone of the FOMC statement has kept other currencies under pressure against the USD. Ahead in the day, the spot could be influenced by the preliminary Q2 US GDP data and weekly jobless claims number.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5640 TARGET 1.5660 1.5690 SL 1.5610
  • SELL GBP/USD BELOW 1.5580 TARGET 1.5560 1.5530 SL 1.5610

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

30Jul
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IForex Market Trading Signals and News – 30 July 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- NZD/USD rises to 2-week highs, but gains capped
  • FOREX- Aussie falls against stronger greenback
  • FOREX- Yen steady after retail sales better than expected in June

EUR/USD
The euro and the yen dipped against the dollar on Wednesday ahead of the Federal Reserve’s rate statement later in the day, which it was hoped would contain clues on the timing of an initial rate hike. Investors were waiting to see if Fed policymakers will give any indication on the timing or pace of future interest rate increases. Fed Chair Janet Yellen has said the central bank could raise rates as soon as September if the economy continues to improve as expected. The U.S. was to release figures on second quarter growth on Thursday, which were expected to show that the economy rebounded following a contraction in the first quarter after an unusually harsh winter. The Conference Board, a market research group, said its index of consumer confidence fell to 90.9 this month from a downwardly revised 99.8 in June. Economists had forecast a reading of 100.0.

GBP/USD
The pound held steady against the U.S. dollar on Wednesday, after the release of upbeat data on U.K. net lending to individuals, as demand for the greenback remained broadly supported ahead of the Federal Reserve’s upcoming policy statement. GBP/USD hit 1.5620 during European morning trade, the session high; the pair subsequently consolidated at 1.5612.The Bank of England reported on Wednesday that total net lending to individuals increased by ₤3.8 billion last month, above forecasts for ₤3.0 billion and up from ₤3.1 billion in April. The report also showed that the number of final mortgage approvals rose to 66,580 in June from 64,830 in May. Economists had expected mortgage approvals to rise to 66,000 last month.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5620 TARGET 1.5640 1.5670 SL 1.5590
  • 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.

29Jul

IForex Market Trading Signals and News – 29 July 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Dollar regains footing before Fed meeting
  • FOREX- NZD/USD climbs ahead of Fed policy statement
  • FOREX- Aussie rises against broadly weaker greenback

EUR/USD
The euro hit a four-month peak against the Swiss franc and a two-week high against a subdued dollar on Monday, after Germany’s Ifo survey for July beat forecasts and painted an upbeat picture of Europe’s largest economy. The dollar fell broadly, after a drop in U.S. shares and bond yields dimmed its allure, with markets focused on this week’s Federal Reserve policy meeting. It fell 0.4 percent against the safe-haven yen with an 8-percent drop in Chinese stocks affecting global risk sentiment, The euro rose 1.2 percent to $1.1113, from about $1.1084 before the Ifo survey was released. Against the Swiss franc, it rose to 1.0602, its highest since March 23. The Munich-based Ifo institute’s business climate index, based on a monthly survey of some 7,000 firms, rose to 108.0 from a revised 107.5 in June.

GBP/USD
The pound edged higher against the U.S. dollar on Tuesday, after data showed that the U.K. economy grew in line with expectations in the second quarter, while sentiment on the greenback remained vulnerable ahead of the Federal Reserve’s policy statement this week. GBP/USD hit 1.5580 during European morning trade, the session high; the pair subsequently consolidated at 1.5584, adding 0.15%. The Office for National Statistics reported on Tuesday that U.K. gross domestic product expanded by 0.7% in the three months ending June 30, meeting forecasts. The U.K.’s economy grew by 0.4% in the preceding quarter.Investors were eyeing Wednesday’s Fed statement to see if policymakers will give any indication on the timing of a rate hike.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5630 TARGET 1.5650 1.5680 SL 1.5600
  • SELL GBP/USD BELOW 1.5595 TARGET 1.5575 1.5545 SL 1.5625

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

28Jul

IForex Market Trading Signals and News – 28 July 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- Euro, Yen Rally as Dollar, Equity Markets Slip at Start of FOMC
  • FOREX- US Dollar Backtracks as FOMC Rate Decision Looms Ahead
  • FOREX- NZD/USD rises as markets digest Chinese data

EUR/USD
The euro has been paring its losses against the dollar over the last few days but we are seeing signs that the move higher may have run into a brick wall. The pair did face resistance around the 38.2 fib – 10 July high to 20 July lows – and prior support, but as was highlighted yesterday (EURUSD – Bullish Rebound Off Big Fib Level), there was reason to believe the correction would be larger. The pair then went on to rally another 100 pips before running into fresh resistance around 1.1010, the 50 fib of the same move. Fed Chair Janet Yellen has said the central bank could raise rates as soon as September if the economy continues to improve as expected. The single currency received an additional boost after a report showed that German business confidence improved this month, boosting the outlook for the euro area’s largest economy.

AUD/USD
The Australian dollar edged up off a six-year low against its U.S. counterpart on Monday, but gains were expected to remain limited as Friday’s weak factory data from China continued to weigh on the commodity-linked currencies. AUD/USD hit 0.7304 during late Asian trade, the session high; the pair subsequently consolidated at 0.7285, up 0.08%. The pair was likely to find support at 0.7257, Friday’s low and a six-year low and resistance at 0.7362, Friday’s high. Private sector data showed on Friday that manufacturing activity in China slowed to a 15-month low in July. The preliminary reading of the Caixin/Markit manufacturing purchasing managers’ index fell to 48.2 from a final reading of 49.4 in June. It was the lowest reading since April 2014.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5585 TARGET 1.5605 1.5635 SL 1.5555
  • SELL GBP/USD BELOW 1.5490 TARGET 1.5470 1.5440 SL 1.5520

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

27Jul
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IForex Market Trading Signals and News – 27 July 2015

INTERNATIONAL CURRENCY BUZZ :

  • FOREX- EUR/USD rose at the end of U.S. session
  • FOREX- GBP/USD rose at the end of U.S. session
  • FOREX- USD/JPY fell at the end of U.S. session

EUR/USD
The EUR/USD tumbled today giving back a good deal of this week’s gains to trade at 1.0944 after disappointing PM-I’s from Germany as well as the other Euro zone economies. The flash Cain/Mar-kit China Manufacturing Purchasing Managers’ Index (PMI) contracted for the fifth straight month, and faster than economists polled by Reuters had estimated. Euro zone business activity also started the second half on a less secure footing than expected, hit by Greece’s near-bankruptcy. Mar kit’s flash PMI fell to 53.7 this month from June’s four-year high of 54.2. A Reuters poll had predicted a more modest dip to 54.0.While economies looked weaker in Europe and Asia, better-than-expected U.S. jobless claims kept the Federal Reserve on track for a rate increase in coming months. The U.S. dollar was 0.4 percent higher against a basket of currencies, trading at 97.489.

GBP/USD
The GBP/USD gave up 23 points to 1.5491 finding little support from the climb in BBA mortgages. The strength of the US dollar continues to weigh on its crosses. On Thursday, British retail sales for June disappointed,it was not enough to deal a blow to hawks on the BoE policy committee, many of whom are probably inching towards voting for a rate hike next month. Sterling eased against the dollar on Friday, on track for its weakest weekly performance in three, after recent data disappointed and falling oil prices raised some doubts over when the Bank of England would hike interest rates. The pair was likely to find support at 1.0808, Monday’s low, and resistance at 1.1019, Thursday’s high.

RECOMMENDATION :

  • BUY GBP/USD ABOVE 1.5630 TARGET 1.5650 1.5680 SL 1.5600
  • SELL GBP/USD BELOW 1.5480 TARGET 1.5460 1.5430 SL 1.5510

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

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