Forex Market

1Apr
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IForex Market Trading Signals and News – 01 April 2015

TRADING TIPS :

  • Forex- Dollar gains ground vs. other majors on U.S. rate hike hopes.
  • Forex- GBP/USD holds at 1-1/2 week lows despite U.K. GDP data.
  • Forex- Euro down more than 1% on Greece woes.

GBP/USD
GBP/USD hit 1.4755 during European morning trade, the session low; the pair subsequently consolidated at 1.4765, down 0.27%.The pound was trading at one-and-a-half week lows against the U.S. dollar on Tuesday, even after data showed that the U.K. economy grew more than initially expected in the fourth quarter of 2014, as demand for the greenback remained broadly supported.In a report, the U.K.’s Office for National Statistics said gross domestic product expanded at a rate of 0.6% in the final three months of 2014, up from a previous estimate of 0.5% and above expectations for a 0.5% reading.

EUR/USD
EUR/USD hit lows of 1.0714, the weakest level since March 20 and was last at 1.0722, down 1.02% for the day. The euro was down more than 1% against the dollar and the yen on Tuesday as a standoff between Greece and its creditors over a debt restructuring deal dragged on.The drop in the euro came after Greece failed to reach an agreement on a program of economic reforms with its lenders on Monday. Athens will run out of cash later this month unless it can reach a compromise with its creditors in time to unlock more bailout funds. The euro remained lower after preliminary figures showed that euro zone consumer prices slid in March but the rate of decline slowed from the previous month, indicating that price falls may have already bottomed out.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4796-TG: 1.4826/1.4856 SL 1.4766
2. Sell GBP/USD Below 1.4732-TG: 1.4712/1.4682 SL 1.4762

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

31Mar
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IForex Market Trading Signals and News – 31 March 2015

TRADING TIPS :

  • Forex- Dollar rises broadly vs. rivals on U.S. optimism.
  • Forex- Sterling slips as dollar regains ground.
  • Forex- EUR/USD slides lower, eyes on Greece.

GBP/USD
GBP/USD hit session lows of 1.4849 and was last down 0.31% to 1.4845.The pound slipped lower against the dollar on Monday as the greenback firmed up after Federal Reserve Chair Janet Yellen reiterated Friday that the bank is likely to start raising interest rates later this year.In a speech on Friday, Ms. Yellen said a rate hike may be warranted later this year, but added that weakening inflation pressures could force the Fed to delay.The U.S.dollar index which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.30% to 97.91. The index slid 0.66% last week, the second consecutive weekly decline.

EUR/USD
EUR/USD hit 1.0820 during European morning trade, the session low; the pair subsequently consolidated at 1.0853, shedding 0.34%.The euro slid lower against the U.S. dollar on Monday, as Friday’s strong U.S. economic growth report and comments by Federal Reserve Chair Janet Yellen continued to lend broad support to the greenback, while markets followed developments on the Greek debt front.The dollar strengthened broadly after the Commerce Department reported Friday that the U.S. economy expanded at an annual rate of 2.2% in the fourth quarter, unchanged from the preliminary estimate and below economists’ forecasts for an upward revision to 2.4%.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4938-TG: 1.4958/1.4988 SL 1.4908
2. Sell GBP/USD Below 1.4874-TG: 1.4854/1.4834 SL 1.4904

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

30Mar
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IForex Market Trading Signals and News – 30 March 2015

TRADING TIPS :

  • Forex- Dollar gains ground vs. rivals ahead of U.S. GDP report.
  • Forex- GBP/USD falls to 1-week lows, U.S. GDP data on tap.
  • Forex- EUR/USD falls sharply amid strong U.S. data, forecasts for parity

GBP/USD
GBP/USD hit 1.4797 during European morning trade, the pair’s lowest since March 20; the pair subsequently consolidated at 1.4820, slipping 0.20%.The pound fell to one-week lows against the U.S. dollar on Friday, as demand for the greenback remained supported by the previous session’s upbeat U.S. data and as markets eyed an upcoming report on U.S. fourth quarter growth.The dollar found broad support after data on Thursday showing that the number of people filing unemployment assistance in the U.S. last week fell to a five-week low sparked optimism over the strength of the job market.

EUR/USD
EUR/USD fell sharply on Thursday amid continued instability in Greece and strong economic data in the U.S..The euro fell 0.0086 or 0.78% in U.S. afternoon trading to 1.0885. The pair moved above 1.10 at 1.1056 on Thursday morning to 1.1056 after opening at 1.0972. It also dipped below 1.086 on a volatile day of trading..The dollar found broad support after data on Thursday showing that the number of people filing unemployment assistance in the U.S. last week fell to a five-week low sparked optimism over the strength of the job market. The U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending March 21  declined by 9,000 to 282,000 from the previous week’s total of 291,000.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4899-TG: 1.4919/1.4949 SL 1.4869
2. Sell GBP/USD Below 1.4835-TG: 1.4815/1.4785 SL 1.4865

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

27Mar

IForex Market Trading Signals and News – 27 March 2015

TRADING TIPS :

  • Forex- Softer dollar hits 1-month lows against yen.
  • Forex- EUR/USD reaches two-week high, amid weak U.S. durable goods data.
  • Forex- GBP/USD climbs to 1-week highs on upbeat U.K. data.

GBP/USD
GBP/USD hit 1.4990 during European morning trade, the pair’s highest since March 18; the pair subsequently consolidated at 1.4979, advancing 0.67%.The pound climbed to a one-week high against the U.S. dollar on Thursday, supported by upbeat U.K. retail sales data and as demand for the greenback remained under pressure after Wednesday’s disappointing U.S. economic reports.In a report, the U.K. Office for National Statistics said retail sales increased 0.7% last month, above forecasts for a gain of 0.4%. Retail sales in January rose by 0.1%, whose figure was revised from a previously reported decline of 0.3%.

EUR/USD
EUR/USD rose steadily in U.S. morning trading to reach a two-week high at 1.103 before settling at 1.0974. The pair gained 0.44% or .0048 as it continues its steady rebound from early last week when parity appeared inevitable.The euro continued its recent hot streak against the U.S. dollar, moving above 1.10 as weak data on U.S. durable goods strengthened the case for delaying a potential interest rate hike. The U.S. Department of Commerce said in a monthly report that durable or long-lasting goods orders dipped by a seasonally adjusted 1.4% for the month of February. Orders for January were also revised downward to a 0.1% decline for the month. As a result, investment spending by U.S. businesses has dropped for six straight months.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4972-TG: 1.4992/1.5022 SL 1.4942
2. Sell GBP/USD Below 1.4902-TG: 1.4882/1.4852 SL 1.4932

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

26Mar
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IForex Market Trading Signals and News – 26 March 2015

TRADING TIPS :

  • Forex- Dollar steady against euro, yen as selloff pauses.
  • Forex- Euro pushes higher as German business morale improves.
  • Forex- GBP/USD rises on upbeat U.K. mortgage approvals.

GBP/USD
GBP/USD hit 1.4896 during European morning trade, the session high; the pair subsequently consolidated at 1.4888, gaining 0.27%. The pound rose against the U.S. dollar on Wednesday, after upbeat U.K. mortgage approvals data, although the greenback remained mildly supported by hopes for a near-term U.S. rate hike.In a report, the British Banker’s Association said that the number of new mortgages approved increased to a five-month high of 37,300 last month from January’s total of 36,400. Analysts had expected the number of new mortgages approved to rise to 36,900 in February.The uptick in underlying inflation indicated that the Federal Reserve would still have leeway to tighten monetary policy even with inflation running below target.

EUR/USD
EUR/USD was up 0.26% to 1.0952 from around 1.0929 earlier.The euro touched session highs against the dollar on Wednesday after data showing German business confidence improved this month boosted the outlook for the euro area’s largest economy.The survey showed German firms were more upbeat about the current situation than they were last month, with the current conditions index rising to 111.3 from 112 in February, and were also more optimistic about their prospects for the next six months.The weaker euro and lower oil prices are giving German firms a lift the report said and the decline in the euro exchange rate also gave exporters more confidence about future prospects.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4901-TG: 1.4921/1.4951 SL 1.4871
2. Sell GBP/USD Below 1.4837-TG: 1.4917/1.4887 SL 1.4867

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

25Mar
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25Mar

IForex Market Trading Signals and News – 25 March 2015

TRADING TIPS :

  • Forex- EUR/USD continues rally, remaining above 1.09 in U.S. afternoon trading.
  • Forex- Dollar remains broadly lower after U.S. housing data.
  • Forex- GBP/USD drops ahead of U.K. industrial orders data.

GBP/USD
GBP/USD hit 1.4839 during European morning trade, the pair’s lowest since Friday; the pair subsequently consolidated at 1.4867, retreating 0.57%.Cable was likely to find support at 1.4720, Friday’s low and resistance at 1.5012, the high of March 19.The pound dropped against the U.S. dollar on Monday, as the greenback regained some ground after declining sharply last week on the back of fresh uncertainty over the timing of a U.S. rate hike, while markets eyed upcoming U.K. data on industrial orders expectations.The dollar remained under pressure amid uncertainty over the path of U.S. monetary policy after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections last week.

EUR/USD
EUR/USD hit 1.0940 during U.S. morning trade, the pair’s highest since March 18; the pair subsequently consolidated at 1.0931, advancing 1.04%.The pair was likely to find support at 1.0648, the low of March 20 and resistance at 1.1032, the high of March 18. The euro pushed higher against the U.S. dollar on Monday, amid hopes for progress on the Greek debt front, while uncertainty over the timing of a U.S. rate hike continued to dampen demand for the greenback. While the U.S. dollar extended its recent slide against the euro on Monday, comments from Federal Reserve vice chair Stanley Fischer and leaders in Europe discussing the Greek financial crisis had little impact on currency prices in afternoon trading.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4942-TG: 1.4962/1.4992 SL 1.4912
2. Sell GBP/USD Below 1.4878-TG: 1.4958/1.4928 SL 1.4908

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

24Mar

IForex Market Trading Signals and News – 24 March 2015

TRADING TIPS :

  • Forex- EUR/USD continues rally, remaining above 1.09 in U.S. afternoon trading.
  • Forex- Dollar remains broadly lower after U.S. housing data.
  • Forex- GBP/USD drops ahead of U.K. industrial orders data.

GBP/USD
GBP/USD hit 1.4839 during European morning trade, the pair’s lowest since Friday; the pair subsequently consolidated at 1.4867, retreating 0.57%.Cable was likely to find support at 1.4720, Friday’s low and resistance at 1.5012, the high of March 19.The pound dropped against the U.S. dollar on Monday, as the greenback regained some ground after declining sharply last week on the back of fresh uncertainty over the timing of a U.S. rate hike, while markets eyed upcoming U.K. data on industrial orders expectations.The dollar remained under pressure amid uncertainty over the path of U.S. monetary policy after the Federal Reserve downgraded its forecasts for growth and inflation and lowered its interest rate projections last week.

EUR/USD
EUR/USD hit 1.0940 during U.S. morning trade, the pair’s highest since March 18; the pair subsequently consolidated at 1.0931, advancing 1.04%.The pair was likely to find support at 1.0648, the low of March 20 and resistance at 1.1032, the high of March 18. The euro pushed higher against the U.S. dollar on Monday, amid hopes for progress on the Greek debt front, while uncertainty over the timing of a U.S. rate hike continued to dampen demand for the greenback. While the U.S. dollar extended its recent slide against the euro on Monday, comments from Federal Reserve vice chair Stanley Fischer and leaders in Europe discussing the Greek financial crisis had little impact on currency prices in afternoon trading.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4992-TG: 1.5012/1.5042 SL 1.4962
2. Sell GBP/USD Below 1.4928-TG: 1.4908/1.4878 SL 1.4958

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

23Mar
forex-trading3

IForex Market Trading Signals and News – 23 March 2015

TRADING TIPS :

  • Forex- Dollar pushes broadly lower in risk-on trade, Fed still weighs.
  • Forex- EUR/USD rallies over 1% on fresh Greece hopes, Fed.
  • Forex- GBP/USD holds steady after U.K. public sector borrowing data.

GBP/USD
GBP/USD hit 1.4723 during European morning trade, the session low; the pair subsequently consolidated at 1.4749.Cable was likely to find support at 1.4631, the low of March 18 and a nearly five-year low and resistance at 1.4853, the high of March 16.The pound held steady against the U.S. dollar on Friday, after positive U.K. public sector borrowing data, while sentiment on the greenback remained vulnerable after the Federal Reserve’s latest policy statement.In a report, the U.K. Office for National Statistics said that public sector net borrowing rose by £6.22 billion in February, less than the expected increase of £7.70 billion. January’s figure was revised to a £8.93 billion drop from a previously estimated decline of £9.41 billion.

EUR/USD
EUR/USD hit 1.0818 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.0785, jumping 1.19%.The pair was likely to find support at 1.0612, Thursday’s low and resistance at 1.1032, the high of March 18.The single currency found support after the European Commission said it made $2 billion of unused funds available to Greece to help the country avert a cash crunch. The euro rallied over 1% against the U.S. dollar on Friday, supported by fresh hopes Greece will secure the additional internation funds needed to avoid bankruptcy, while lessened expectations for a near-term U.S. rate hike continued to pressure the greenback lower.continued on a path of unprecedented volatility on Friday.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4992-TG: 1.5012/1.5042 SL 1.4962
2. Sell GBP/USD Below 1.4928-TG: 1.4908/1.4878 SL 1.4958

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

20Mar
forex-trading3

IForex Market Trading Signals and News – 20 March 2015

TRADING TIPS :

  • Forex- U.S. dollar rebounds against euro, after largest one-day drop since 2009.
  • Forex- Japanese yen flat after minutes show concern on consumer prices.
  • Forex- Euro sharply lower as dollar bounces back.

GBP/USD
GBP/USD pulled away from 1.4796, the session low, to hit 1.4895 during European morning trade, still down 0.58%.Cable was likely to find support at 1.4721, Tuesday’s low and resistance at 1.5148, Wednesday’s high.The dollar regained some ground after broadly weakening when the Fed indicated on Wednesday that U.S. economic growth has moderated and that interest rates will rise at a slower pace than previously forecast .The pound trimmed losses against the U.S. dollar on Thursday, but remained under pressure as the greenback continued to recover from news U.S. interest rates will most likely remain on hold for longer than expected. The pound had dropped to nearly five-year lows against the greenback earlier Wednesday after the U.K. Office for National Statistics said that the rate of unemployment was unchanged at 5.7% in the three months to January,

EUR/USD
EUR/USD ropped 1.96% to 1.0654, after rallying to highs of 1.1041 in the wake of Wednesday’s Fed statement, well off Friday’s 12-year trough of 1.0461.The dollar initially sold off after the Fed downgraded its forecasts for growth and inflation and lowered its interest rate projections after Wednesday’s policy meeting. The euro fell almost 2% against the dollar on Thursday, giving up most of the gains from the previous session, when the dollar turned sharply lower after the Federal Reserve struck a more dovish tone than expected on interest rates. The Fed dropped a reference to being “patient” on the timing of rate hikes, but added that the change in its forward guidance did not mean it has decided on the timing for an initial rate increase.

RECOMMENDATION :

1. Buy GBP/USD Above 1.4772-TG: 1.4792/1.4822 SL 1.4742
2. Sell GBP/USD Below 1.4708-TG: 1.4688/1.4658 SL 1.4738

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

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