Forex Market

20Oct
Forex Signals

IForex Market Trading Signals and News – 20 October 2014

TRADING TIPS :

  • Forex-Dollar broadly higher vs. rivals as U.S. data supports .
  • Forex-Japanese yen weaker in Asia, Aussie gains in light data day.
  • Forex-EUR/USD pushes lower as market sentiment wanes.

GBP/USD
GBP/USD hit 1.6030 during European morning trade, the session low; the pair subsequently consolidated at 1.6055, shedding 0.20%.Cable was likely to find support at 1.5940, Thursday’s low and resistance at 1.6182, the high of October 8.The greenback’s gains were limited however as St. Louis Federal Reserve President James Bullard said the U.S. central bank may want to maintain its bond buying fornow given a drop in inflation expectations.Sterling was steady against the euro, with EUR/GBP inching up 0.06% to 0.7967.Sentiment on the euro remained vulnerable amid growing concerns over the threat of deflation in the euro zone after revised data on Thursday showed that bloc’s consumer price inflation rose by 0.3% in September, in line with expectations.

EUR/USD
EUR/USD hit 1.2835 during European afternoon trade, the session high; the pair subsequently consolidated at 1.2823, adding 0.11%.The pair was likely to find support at 1.2704, Thursday’s low and resistance at 1.2903, the high of September 23.Sentiment recovered mildly on Thursday after the U.S. Department of Labor reported that the number of individuals filing for initial jobless benefits in the week ending October 11 decreased by 23,000 to a 14-year low of 264,000 from the previous week’s total of 287,000.Analysts had expected jobless claims to rise by 3,000 to 290,000 last week.A separate report showed that U.S. industrial production climbed 1.0% last month, beating expectations for a 0.4% rise.In addition, St. Louis Federal Reserve President James Bullard said the U.S. central bank may want to maintain its bond buying for now given a drop in inflation expectations.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6131-TG:1.6151/1.6181 SL 1.6101
2. Sell GBP/USD Below 1.6048-TG:1.6028/1.5998 SL 1.6078

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

17Oct
forex-trading3

IForex Market Trading Signals and News – 17 October 2014

TRADING TIPS :

  • Forex-Dollar recovers from previous day’s losses, U.S. data on tap .
  • Forex-GBP/USD almost unchanged, near 11-month lows .
  • Forex-EUR/USD pushes lower as market sentiment wanes.

GBP/USD
GBP/USD hit 1.5951 during European morning trade, the session low; the pair subsequently consolidated at 1.6002, easing 0.11%.The pound was almost unchanged against the U.S. dollar on Thursday, still hovering close to an 11- month low as the greenback recovered from the previous day’s sharp losses due to weak U.S. economic reports.Cable was likely to find support at 1.5873, Wednesday’s low and an 11-month low and resistance at 1.6103, the high of October 14.Official data showed that U.S. retail sales fell 0.3% last month, more than the expected 0.1% slip, while core retail sales, which exclude automobiles, dropped 0.2% in September, confounding expectations for a 0.3% gain.

EUR/USD
EUR/USD hit 1.2706 during European early afternoon trade, the session low; the pair subsequently consolidated at 1.2737, retreating 0.76% The pair was likely to find support at 1.2623, Wednesday’s low and resistance at 1.2886, Wednesday’s high and a three-week high.that euro zone consumer price inflation remained at 0.3% in September, in line with expectations.Core CPI, which excludes food, energy, alcohol, and tobacco, ticked up to 0.8% last month from an initial estimate of 0.7%.The euro pushed lower against the U.S. dollar on Thursday, after euro zone inflation data came out in line with expectations as mounting concerns over global economic growth continued to dominate market sentiment.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6022-TG:1.6042/1.6072 SL 1.5992
2. Sell GBP/USD Below 1.5954-TG:1.5934/1.5904 SL 1.5984

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

16Oct

IForex Market Trading Signals and News – 16 October 2014

TRADING TIPS :

  • Forex-Dollar rises broadly as euro zone worries dampen sentiment.
  • Forex-Dollar posts solid gains on soft U.K., euro zone data.
  • Forex-USD/JPY edges lower after Amari comments.

GBP/USD
GBP/USD hit 1.5878 during European morning trade, the pair’s lowest since November 2013; the pair subsequently consolidated at 1.5901, dipping 0.01%. Cable was likely to find support at 1.5852 and resistance at 1.6103, Tuesday’s high.Meanwhile, market sentiment remained under pressure amid growing concerns over the outlook for growth in the euro zone after data on Tuesday showed that the bloc’s industrial production declined more than expected in August, while July’s figure was revised down.A separate report showed that German economic sentiment deteriorated to the lowest level since December 2012 in October, fuelling further concerns over the euro zone’s largest economy.

USD/JPY
USD/JPY hit 107.50 during European early afternoon trade, the pair’s high since Monday; the pair subsequently consolidated at 107.20, adding 0.14%.The pair was likely to find support at 106.65, Tuesday’s low and a one-month low and resistance at 107.66, the high of October 13.The yen found support after Japanese Economics Minister Akira Amari said in parliament on Wednesday that the government is not pursuing a policy to intentionally weaken the nation’s currency and that it is necessary to monitor any negative impact from rising import prices. Later in the day, the U.S. was to release data on retail sales, as well as reports on producer prices and manufacturing activity in the New York region.

RECOMMENDATION :

1. Buy GBP/USD Above 1.5925-TG:1.5945/1.5975 SL 1.5805
2. Sell GBP/USD Below 1.5868-TG:1.5848/1.5818 SL 1.5898

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

15Oct
forex-trading3

IForex Market Trading Signals and News – 15 October 2014

TRADING TIPS :

  • Forex-Dollar strengthens broadly vs. rivals in risk-off trade.
  • Forex-Dollar recovers from Fed disappointment, regains ground vs. yen, euro.
  • Forex-GBP/USD extends losses on weak U.K. inflation report.

GBP/USD
GBP/USD hit 1.5978 during European morning trade, the pair’s lowest since October 6; the pair subsequently consolidated at 1.5973, retreating 0.69%. Cable was likely to find support at 1.5941, the low of October 6 and an 11- month low resistance at 1.6128, Monday’s high. In a report, the U.K. Office for National Statistics said the rate of consumer price inflation slowed to 1.2% last month from 1.5% in August. Analysts had expected U.K. CPI to fall to 1.4% in September.Month-over-month, consumer price inflation was flat in September, after rising 0.4% in August. Core CPI, which excludes food, energy, alcohol, and tobacco costs rose at a rate of 1.5% last month, down from 1.9% in August. Analysts had expected core prices to rise 1.8% in September.

USD/JPY
USD/JPY added 0.21% to trade at 107.09, easing off a one-month low hit overnight.The safe-haven yen had strengthened recently after the International Monetary Fund cut its forecasts for global growth in 2014 and 2015 last week and warned that global growth may never reach its pre-crisis levels ever again.Markets were also jittery amid the widening Ebola epidemic. The ZEW Centre for Economic Research said that its index of German economic sentiment fell by 10.5 points to minus 3.6 this month from September’s reading of 6.9. Analysts had expected the index to decline by 5.9 points to 1.0 in October.The index of euro zone economic sentiment plunged to 4.1 in September from 14.2 in August, below expectations for a decline to 7.1.

RECOMMENDATION :

1. Buy GBP/USD Above 1.5945-TG:1.5965/1.5995 SL 1.5915
2. Sell GBP/USD Below 1.5895-TG:1.5875/1.5845 SL 1.5925

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

14Oct

IForex Market Trading Signals and News – 14 October 2014

TRADING TIPS :

  • Forex-Bitcoin rebound continues as prices rise to $380-level .
  • Forex-Dollar little changed vs. rivals in holiday-thinned trade.
  • Forex- GBP/USD edges higher in quiet trade

GBP/USD
GBP/USD hit 1.6126 during European morning trade, the session high; the pair subsequently consolidated at 1.6089, adding 0.09% Cable was likely to find support at 1.6006, Friday’s low and resistance at 1.6227, the high of October 9.Market sentiment was hit last week after the International Monetary Fund cut its forecasts for global growth in 2014 and 2015 and warned that global growth may never reach its pre-crisis levels ever again .The pound edged higher against the U.S. dollar in quiet trade on Monday, with U.S. markets to remain closed for Columbus Day and although global growth concerns persisted.

USD/JPY
USD/JPY traded at 107.14, down 0.47%, Markets in Japan are to remain closed for a national holiday. China’s trade balance showed September exports up 15.3%, above the 11.8% expected and imports increased 7.0%, above the 2.7% decline seen while the trade balance was a surplus of $31 billion, lower than the $41 billion forecast. edged down 0.09% to trade at 107.54 as market sentiment was hit by global growth concerns after the International Monetary Fund cut its forecasts for global growth in 2014 and 2015 and warned that global growth may never reach its pre-crisis levels ever again.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6143-TG:1.6163/1.6193 SL 1.6113
2. Sell GBP/USD Below 1.6085-TG:1.6065/1.6035 SL 1.6115

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

13Oct
forex-trading3

IForex Market Trading Signals and News – 13 October 2014

TRADING TIPS :

  • Forex-Dollar edges higher as safe-haven demand strengthens.
  • Forex-Japanese yen retains strength after BoJ minutes, Aussie slumps.
  • Forex-GBP/USD slides lower despite positive U.K. trade data..

GBP/USD
GBP/USD hit 1.6044 during European morning trade, the pair’s lowest since Wednesday; the pair subsequently consolidated at 1.6058, sliding 0.37%.Cable was likely to find support at 1.6023, the low of October 7 and resistance at 1.6227, Thursday’s high.In a report, the U.K. Office for National Statistics said the trade deficit narrowed to £9.10 billion in August from £10.41 billion in July, whose figure was revised from a previously estimated deficit of £10.19 billion. Analysts had expected the trade deficit to narrow to £9.60 billion in August.The data came a day after the Bank of England voted to keep interest rates on hold at 0.5% and to keep the size of its asset purchase program unchanged at £375 billion.

USD/JPY
USD/JPY edged up 0.19% to trade at 108.03. Earlier Friday, the minutes of the Bank of Japan’s September 3-4 policy meeting showed that some members voiced concerns over possible adverse effects of additional stimulus measures. These concerns raised the prospect of the first policy split vote under BoJ Governor Haruhiko Kuroda’s mandate,even as the central bank head continues to emphasize his readiness to take fresh action to meet the BOJ’s 2% inflation target, if needed. On Tuesday, the BoJ left monetary policy unchanged at its policy meeting, but acknowledged that declining domestic demand as a result of a sales tax increase in April was leading to economic weakness.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6124-TG:1.6144/1.6174 SL 1.6094
2. Sell GBP/USD Below 1.6048-TG:1.6028/1.5998 SL 1.6078

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

10Oct
forex-trading3

IForex Market Trading Signals and News – 10 October 2014

TRADING TIPS :

  • Forex-Dollar slides lower as U.S. rate hike expectations subside.
  • Forex-Dollar slips vs. euro, yen after dovish Fed minutes.
  • Forex- GBP/USD remains near 1-week highs as BoE holds.

GBP/USD
GBP/USD hit 1.6216 during European morning trade, the pair’s highest since October 2; the pair subsequently consolidated at 1.6207, rising 0.25%. Cable was likely to find support at 1.6029, Wednesday’s low and resistance at 1.6251, the high of October 2.The dollar weekend broadly after the minutes of the Fed’s September 16-17 policy meeting released on Wednesday showed that a number of officials believe the bank’s current language painted the wrong picture on the timing of rate hikes and that an interest rate rise should be tied to U.S. economic progress. The report also showed that the U.S. central bank cut its growth outlook due to the higher dollar and concerns over global weakness

USD/JPY
USD/JPY remained near three week lows of 107.61 hit overnight, before pulling back slightly to trade a 107.79, down 0.23% for the day.Government data earlier showed that Japan’s core machinery orders rose 4.7% in August, more than the expected 1.1% increase, after a 3.5% gain in July. The dollar had rallied against the euro and the yen in recent months amid growing expectations that the Fed is growing closer to raising interest rates, while central banks in Japan and Europe are likely to stick to a looser monetary policy stance.The Bank of Japan left monetary policy unchanged at its policy meeting on Tuesday, but acknowledged that declining domestic demand as a result of a sales tax increase in April was leading to economic weakness.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6245-TG:1.6265/1.6295 SL 1.6215
2. Sell GBP/USD Below 1.6177-TG:1.6157/1.6127 SL 1.6207

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

9Oct
forex-trading3

IForex Market Trading Signals and News – 09 October 2014

TRADING TIPS :

  • Forex-Dollar index slightly higher ahead of Fed minutes
  • Forex-Euro slips lower against dollar .
  • Forex- NZD/USD slides lower on IMF, Fed minutes on tap.

EUR/USD
EUR/USD touched session lows of 1.2623 and was last down 0.07% to 1.2660.The single currency remained under pressure after data on Tuesday showing a steep decline in German factory orders in August added to concerns that the euro area’s largest economy being pulled into a recession.The weak data added to expectations that the European Central Bank will implement fresh stimulus measures to help bolster growth.The IMF said Tuesday that Europe was experiencing a “multispeed recovery” and revised down its growth forecasts for the euro zone’s three largest economies, Germany, France and Italy.

USD/JPY
USD/JPY was up 0.25% to 108.40, after falling as low as 107.74 overnight.The yen strengthened broadly on Tuesday after the International Monetary Fund cut its forecast for global growth for 2014 and 2015 and warned that the global recovery is weak and uneven.The IMF is now forecasting global economic growth of 3.3% this year, down from 3.4% in July and expects growth of 3.8% in 2015, compared to an earlier prediction of 4.0%. Investor sentiment was also hit after a report showing a steep decline in German factory orders in August fuelled fears that the euro zone’s largest economy is falling into a recession.The yen found support earlier Tuesday after Japanese Prime Minister Shinzo Abe voiced concerns over the impact of a weaker yen on the economy.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2692-TG:1.2712/1.2742 SL 1.2662
2. Sell EUR/USD Below 1.2627-TG:1.2607/1.2587 SL 1.2657

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

8Oct
Forex Signals

IForex Market Trading Signals and News – 08 October 2014

TRADING TIPS :

  • Forex-Dollar regains ground after Monday’s slide.
  • Forex-Euro lower after weak German industrial data .
  • Forex- GBP/USD holds steady after U.K. data.

EUR/USD
EUR/USD hit session lows of 1.2605 and was last down 0.22% to 1.2625.The euro hit session lows after data showed that industrial output in Germany dropped by 4.0% in August. It was the largest decline since early 2009 and was much worse than forecasts for a fall of 1.5%The euro was broadly lower against the other major currencies on Tuesday as weak German industrial production data added to fears over the outlook for the euro zone economy. The report came one day after data showed that German factory orders fell 5.7% in August, fuelling fears that the euro area’s largest economy is falling into a recession.

USD/JPY
USD/JPY was down 0.07% to 108.71, off session lows of 108.39.The yen found support earlier Tuesday after Japanese Prime Minister Shinzo Abe voiced concerns over the impact of a weaker yen on the economy. The Bank of Japan left monetary policy unchanged at the conclusion of its two day policy meeting earlier, but acknowledged that declining domestic demand as a result of a sales tax increase in April is leading to economic weakness.The Bank of Japan left monetary policy unchanged at the conclusion of its two day policy meeting earlier Tuesday, but acknowledged that declining domestic demand as a result of a sales tax increase in April is leading to weakness in production.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2615-TG:1.2635/1.2665 SL 1.2585
2. Sell EUR/USD Below 1.2582-TG:1.2562/1.2532 SL 1.2615

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

7Oct

IForex Market Trading Signals and News – 07 October 2014

TRADING TIPS :

  • Forex-Dollar rally stalls after record run higher.
  • Forex-Euro pushes higher as dollar pauses.
  • Forex- USD/CHF edges lower in quiet trade.

EUR/USD
EUR/USD was up 0.22% to 1.2542, easing back from Friday’s two year trough of 1.2499.The US Dollar Index, which tracks the performance of the greenback against a basket of six major currencies, slipped 0.21% to 86.60, not far from Friday’s four-year peaks of 86.79. It notched up its twelfth consecutive weekly gain last week, the longest rally since the index was created in 1971.Demand for the dollar continued to be underpinned after Friday’s stronger-than-forecast U.S. jobs report fuelled expectations that the Federal Reserve could raise interest rates in the middle of next year.

USD/JPY
USD/JPY was down 0.23% to 109.52, off Friday’s highs near six year highs of 109.86.The US Dollar Index, which tracks the performance of the greenback against a basket of six major currencies, dipped 0.12% to 86.69, not far from Friday’s four year peaks of 86.79. It notched up its twelfth consecutive weekly gain last week, the longest rally since the index was created in 1971.The U.S. economy added 248,000 jobs in September, the Labor Department reported Friday, well ahead of forecasts for jobs growth of 215,000. The unemployment rate ticked down to 5.9%, the lowest level since July 2008The robust data reinforced expectations that the strengthening economic recovery may prompt the Federal Reserve to raise interest rates sooner..

RECOMMENDATION :

1. Buy EUR/USD Above 1.2583-TG:1.2603/1.2633 SL 1.2553
2. Sell EUR/USD Below 1.2532-TG:1.2512/1.2482 SL 1.2562

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

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