Forex Market

30Oct
Forex Signals

IForex Market Trading Signals and News – 30 October 2014

TRADING TIPS :

  • Forex-Russian rouble sinks to new all-time lows vs. dollar, euro.
  • Forex-AUD/USD higher with Fed meeting in focus.
  • Forex- Dollar gains against yen in early Asia as all eyes on Fed meet.

USD/JPY
USD/JPY traded at 108.11, down 0.05%, .The dollar gained against the yen early Wednesday in Asia with the Australian dollar flat and all eyes on the upcoming Federal Reserve monetary policy announcement.The Fed is widely seen closing its bond-buying program, though uncertainty as to whether or not the statement will contain dovish or hawkish language surrounding interest rates prompted investors to avoid the greenback ahead of time.Up ahead, Japan’s September preliminary industrial output data is due at at 0850 Tokyo The forecast is for a 2.2% gain on month, which would be the first rise in two months.

EUR/USD
EUR/USD edged up 0.08% to 1.2744, holding below Tuesday’s one week highs of 1.2764.The dollar held steady against the euro and the yen on Wednesday as investors looked ahead to the conclusion of the Federal Reserve’s two day policy meeting later in the day.The Fed was widely expected to announce the conclusion of its asset purchasing stimulus program, known as quantitative easing after its monthly meeting. the U.S. central bank was also expected to reassure markets that interest rates will remain on hold for some time to come amid concerns that slowing growth in Europe and China could act as a drag on the U.S. economy.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6153-TG:1.6173/1.6203 SL 1.6123
2. Sell GBP/USD Below 1.6115-TG:1.6095/1.6065 SL 1.6145

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

29Oct

IForex Market Trading Signals and News – 29 October 2014

TRADING TIPS :

  • Forex-USD/JPY edges higher, Fed statement in focus .
  • Forex-Pound dips as dollar edges higher before Fed .
  • Forex- AUD/USD rises to 2-week highs ahead of Fed .

USD/JPY
USD/JPY hit 108.10 during European late morning trade, the session high; the pair subsequently consolidated at 108.04, adding 0.20%. The pair was likely to find support at 107.08, the low of October 23 and resistance at 108.73, the high of October 8.The U.S. dollar edged higher against the yen on Tuesday, as sentiment on the greenback became mildly stronger ahead of the Federal Reserve’s highly anticipated policy statement due on Wednesday. In Japan, data on Tuesday showed that retail sales rose at an annualized rate of 2.3% in September, beating expectations for a 0.6% gain, after a 1.2% increase the previous month.Investors were eyeing the conclusion of the Fed’s two day meeting on Wednesday for any indications that a slowdown in growth in Europe or China could prompt the U.S. central bank to delay possible rate hikes.

EUR/USD
EUR/USD was at 1.2708, off Monday’s lows of 1.2664.The greenback remained under pressure amid concerns that recent signs of a slowdown in growth in Europe and China could prompt the U.S. central bank to stick to its cautious outlook on monetary policy . The dollar was little changed against the euro and the yen on Tuesday following declines in the previous session as investors looked ahead to the conclusion of the Federal Reserve’s two day policy meeting on Wednesday.Data on Monday showing that German business confidence fell to the lowest level since December 2012 this month added to fears over the outlook for fourth quarter growth in the euro area’s largest economy.The dollar slid on Monday after data showed that the U.S. service sector expanded at the slowest rate in six months in October, as new order growth slowed and business confidence declined.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6122-TG:1.6142/1.6172 SL 1.6082
2. Sell GBP/USD Below 1.6090-TG:1.6070/1.6040 SL 1.6120

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

28Oct
forex-trading3

IForex Market Trading Signals and News – 28 October 2014

TRADING TIPS :

  • Forex- Euro slips after German Ifo deteriorates.
  • Forex-AUD/USD holds steady, market sentiment improves.
  • Forex- Euro up after ECB stress test results on banks.

USD/JPY
USD/JPY the dollar was lower against the yen, with USD/JPY sliding 0.33% to 107.78.was down 0.12% to 108.14late after falling as low as 107.77 earlier in the session.apan’s government downgraded its assessment of the economic outlook for the second consecutive month last week, and a report earlier in the month showed that sentiment in the services sector deteriorated in the third quarter after a sales tax hike in April hit consumption. The dollar later pulled away from session lows after data showed that U.S. new home sales rose 0.2% from a month earlier to hit a six year high of 467,000 in September. Investors were looking ahead to policy meeting by the Federal Reserve and the Bank of Japan later in the week amid lingering concerns over the outlook for the global economy.

EUR/USD
EUR/USD was last trading at 1.2679, just 0.09% higher for the day, down from around 1.2696 ahead of the release of the data and off session highs of 1.2714.The euro weakened after German research institute Ifo said its index of business climate slid to 103.2 this month from 104.7 in September. It was the lowest level in almost two years and was below forecasts of 104.3.The European Central Bank announced the results of yearlong tests to assess the finances of 150 banks on Sunday. Overall, 25 banks were found to have a capital shortfall, but most have already taken steps to resolve this, the ECB said. The euro gained in early Asian trade on Monday after the results of stress tests on European banks were released at the weekend, showing a better than expected picture of financial health for many.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6130-TG:1.6150/1.6180 SL 1.6100
2. Sell GBP/USD Below 1.6090-TG:1.6070/1.6040 SL 1.6120

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

27Oct
forex-market-hours

IForex Market Trading Signals and News – 27 October 2014

TRADING TIPS :

  • Forex-Euro up after ECB stress test results on banks
  • Forex-GBP/USD gains on soft U.K. housing data, firm U.K. GDP report
  • Forex- EUR/USD gains on disappointing U.S. home sales data

GBP/USD
was up 0.41% at 1.6097, up from a session low of 1.6018 and off a high of 1.6099. Cable was likely to find support at 1.5993, Thursday’s low, and resistance at 1.6186, Tuesday’s high. The dollar dipped after the Census Bureau reported earlier that U.S. new home sales rose 0.2% in September to 467,000 units, missing expectations for an increase to 470,000 units. The August figure was downwardly revised to a 15.3% climb to 466,000 units from a previously estimated 18.0% jump to 504,000 units, and the data weakened the dollar against the euro, as while the Federal Reserve is widely seen closing its bond-buying program this month, the timing of rate hikes in 2015 remains unclear.

EUR/USD
EUR/USD hit 1.2695 during U.S. morning trade, the pair’s highest since October 22; the pair subsequently consolidated at 1.2685, rising 0.30%. The pair was likely to find support at 1.2582, the low of October 7 and resistance at 1.2769, the high of October 14. The dollar came under pressure after official data showed that U.S. new home sales rose 0.2% lat month to467,000 units, below expectations for an increase to 470,000 units. August’s figure was downwardly revised to a 15.3% climb to 466,000 units from a previously estimated 18.0% jump to 504,000 units.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6140-TG:1.6160/1.6190 SL 1.6115
2. Sell GBP/USD Below 1.6070-TG:1.6050/1.6020 SL 1.6095

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

22Oct
forex-market-hours

IForex Market Trading Signals and News – 22 October 2014

TRADING TIPS :

  • Forex-Euro pushes higher against dollar, gains capped.
  • Forex-AUD/USD higher after RBA minutes, Chinese data.
  • Forex- Dollar lower against yen as growth in China slows.

USD/JPY
USD/JPY was down 0.63% to 106.26 from 106.93 late Monday.China’s economy grew at an annual rate of 7.3% in the three months to September, official data on Tuesday showed, slightly higher than the 7.2% forecast by economists, but slowing from 7.5% in the second quarter.It was the slowest rate of growth since the first quarter of 2009, in the midst of the global financial crisis.The slowdown fuelled fears that China will miss its annual growth target of 7.5% and added to speculation that the government will need to roll out fresh stimulus measures to avert a sharper slowdown.The weak data also added to concerns that weaker global growth could act as a drag on the U.S. economy, dampening dollar demand.

EUR/USD
EUR/USD was up 0.19% to 1.2822, not far from a session high of 1.2840, from 1.2799 late Monday.China’s economy grew at an annual rate of 7.3% in the three months to September, slightly higher than the 7.2% forecast by economists, but slowing from 7.5% in the second quarter.It was the slowest rate of growth since the first quarter of 2009, in the midst of the global financial crisis.The slowdown fuelled fears that China will miss its annual growth target of 7.5% and added to speculation that the government will need to roll out fresh stimulus measures to avert a sharper slowdown.The weak data also added to concerns that weaker global growth could act as a drag on the U.S. economy, dampening dollar demand.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6184-TG:1.6204/1.6234 SL 1.6154
2. Sell GBP/USD Below 1.6130-TG:1.6110/1.6090 SL 1.6160

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

21Oct
forex-trading3

IForex Market Trading Signals and News – 21 October 2014

TRADING TIPS :

  • Forex-Dollar higher against yen as sentiment improves.
  • Forex- Euro little changed vs. dollar, gains against yen.
  • Forex- Pound pushes higher vs. dollar in quiet trade.

GBP/USD
GBP/USD was up 0.25% to 1.6133, not far from session highs of 1.6135. Data on Friday showed that U.S. consumer sentiment rose to the highest level since July 2007 this month and another report showed that U.S. housing starts rose more than expected in September. The data reinforced expectations that the Federal Reserve will raise interest rates in the second half of 2015 and calmed investor jitters at the end of a volatile week of trading.Sterling slumped to 11-month lows against the dollar mid-week after data showed that the annual rate of U.K. inflation slowed to 1.2% in September, down from 1.5% in August.

EUR/USD
EUR/USD edged up 0.05% to 1.2766, holding below the three-week highs of 1.2876 hit last Wednesday. Data on Friday showed that U.S. consumer sentiment rose to the highest level since July 2007 this month and another report showed that U.S. housing starts rose more than expected in September.The data reinforced expectations that the Federal Reserve will raise interest rates in the second half of 2015 and calmed investor jitters at the end of a volatile week of trading.The dollar fell to three week lows against the euro mid-week and weakened against the other major currencies amid fears that slower global growth would act as a drag on the U.S. economy.The Nikkei newspaper said Monday that the $1.2 trillion Government Pension Investment Fund will raise its target for foreign bonds and shares to around 30% from 23%.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6165-TG:1.6195/1.6225 SL 1.6135
2. Sell GBP/USD Below 1.6100-TG:1.6080/1.6050 SL 1.6130

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

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.

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