Forex Market

7Nov
forex-trading3

IForex Market Trading Signals and News – 07 November 2014

TRADING TIPS :

  • Forex- Euro edges higher, stocks sag before ECB meeting.
  • Forex- Dollar rally pauses ahead of ECB, U.S. nonfarm payrolls.
  • Forex- New Zealand dollar edges higher, near 17-month trough.

EUR/USD
GBP/USD was trading at 1.5978, almost unchanged for the day, off Wednesday’s one-year lows of 1.5867. Sterling had a subdued reaction after the Office of National Statistics said industrial production rose 0.6% in September, beating expectations for a 0.4% gain. On a year-over-year basis, industrial output rose 1.5%, in line with forecasts.Manufacturing production increased by 0.4% from a month earlier, slightly better than forecasts of 0.3% and rose by an annualized 2.9%.The pound fell to a one year low against the dollar on Wednesday after data showed that the U.K. service sector expanded at the slowest rate in 17 months in October, adding to signs that the pace of the economic recovery is cooling.

USD/JPY
USD/JPY slid 0.17% to 114.46, coming off the highs of 115.52 struck overnight, the most since November 2007. The US dollar index, which tracks the performance of the greenback against a basket of six major currencies, was down 0.21% to 87.35, holding below Wednesday’s four-and-a-half year highs of 87.72. The dollar rallied on Wednesday, boosted by Republican gains in the U.S. mid-term elections and a report showing that the private sector added more jobs than forecast last month.Separately, the Institute of Supply Management said that its non- manufacturing index slowed to 57.1 last month from 58.6 in September, but the employment component of the index rose, boosting the outlook for the labor market.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2525-TG:1.2545/1.2575 SL 1.2495
2. Sell EUR/USD Below 1.2460-TG:1.2440/1.2410 SL 1.2490

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

5Nov
Forex trading

IForex Market Trading Signals and News – 05 November 2014

TRADING TIPS :

  • Forex- Euro moves higher after EC cuts euro zone growth forecast
  • Forex- Dollar eases but still near highs vs. yen, euro.
  • Forex- GBP/USD little changed after upbeat U.K. PMI.

USD/JPY
USD/JPY was down 0.45% to 113.48, holding below the seven-year peaks of 114.20 struck in the previous session. The yen remained under pressure after the Bank of Japan surprised markets by restarting its bond purchasing stimulus program on Friday, in a bid to shore up the faltering economic recovery.The BoJ acted after data showed that inflation fell to its lowest in nearly a year in September, as a sales tax hike which came into effect in April continued to hit domestic demand. The move fuelled expectations that the European Central Bank will have to implement quantitative easing measures in order to stave off the threat of deflation and spur growth in the euro area. Data on Monday highlighted the diverging monetary policy outlook between the Federal Reserve and its major peers.

GBP/USD
GBP/USD hit 1.6009 during European morning trade, the session high; the pair subsequently consolidated at 1.5994, up 0.13%.Cable was likely to find support at 1.5873, the low of October 15 and a one-year low and resistance at 1.6100, the high of October 24.In a report, market research firm Markit and the Chartered Institute of Purchasing & Supply said that their U.K. construction purchasing managers’ index declined to 61.4 last month from a reading of 64.2 in September.Economists had expected the index to fall to 63.5 in October. In the euro zone, official data earlier showed that the number of unemployed people in Spain increased by 79,200 in October, compared to expectations for a 23,400 rise, after an increase of 19,700 in September.

RECOMMENDATION :

1. Buy USD/JPY Above 113.64-TG:113.84/114.14 SL 113.34
2. Sell USD/JPY Below 112.95-TG:112.65/112.35 SL 113.25

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

4Nov
Forex Signals

IForex Market Trading Signals and News – 04 November 2014

TRADING TIPS :

  • Forex-Dollar hovers near 4-year peak vs. rivals, ISM report ahead.
  • Forex- Australian dollar retains weakness despite HSBC China PMI gain.
  • Forex- GBP/USD little changed after upbeat U.K. PMI.

USD/JPY
USD/JPY hit 112.99 during late Asian trade, the pair’s highest since November 2007; the pair subsequently consolidated at 112.66, rising 0.33%.The pair was likely to find support at 109.15, Friday’s low and resistance at 114.65.The yen came under broad selling pressure on Friday after the BOJ said it would raise its monetary base target to an annual increase of ¥80 trillion from ¥60-70 trillion yen in order to increase the chances of approaching its inflation goal.Meanwhile, demand for the dollar remained supported after the University of Michigan reported on Friday that its consumer sentiment index rose to a seven-year high of 86.9 this month from 86.4 in September.

GBP/USD
GBP/USD hit 1.6024 during European morning trade, the pair’s highest since October 30; the pair subsequently ‘ consolidated at 1.6004, adding 0.06%.Cable was likely to find support at 1.5873, the low of October 15 and a one- year low and resistance at 1.6163, the high of October 29.Markit research group said the U.K. manufacturing purchasing managers’ index rose to 53.2 this month from 51.6 in September. Analysts had expected the index to slip to 51.2 in October.But demand for the dollar remained supported as signs the U.S. economic recovery is on track fuelled fresh speculation the Fed could raise interest rates earlier than expected.On Friday, the University of Michigan reported on Friday that its consumer sentiment index rose to a seven-year high of 86.9 this month from 86.4 in September.

RECOMMENDATION :

1. Buy USD/JPY Above 113.81-TG:114.01/114.31 SL 113.51
2. Sell USD/JPY Below 113.20-TG:113.00/112.70 SL 113.50

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

3Nov

IForex Market Trading Signals and News – 03 November 2014

TRADING TIPS :

  • Forex-Dollar climbs to nearly 4-week highs on U.S. Optimism.
  • Forex- Pound edges lower against stronger dollar.
  • Forex- USD/JPY soars as Japan surprises with fresh stimulus

USD/JPY
USD/JPY was up 2.60% at 112.05, up from a session low of 109.18 and off a high of 112.48.The pair was expected to test support at 109.18, the session low, and resistance at 112.48, the session.The yen came under broad selling pressure after the BOJ said it would raise its monetary base target to an annual increase of ¥80 trillion from ¥60-70 trillion, a preemptive move to steer the economy away from deflationary decline while improving the chances of reaching inflation goals.Adding to pressure, a Japanese government panel overseeing the Government Pension Investment Fund approved plans on Friday for the fund to raise its holding of foreign stocks to 25% of its portfolio from 12%..

GBP/USD
GBP/USD hit 1.5961 during European morning trade, the session low; the pair subsequently consolidated at 1.5976, slipping 0.15%.The pair was likely to find support at 1.5873, the low of October 15 and a one-year low and resistance at 1.6100, the high of October 24.The dollar strengthened on signs the U.S. economic recovery is on track after the Commerce Department reported that U.S. gross domestic product grew at an annual rate of 3.5% in the three months to September, beating forecast for 3%.But consumer spending slowed to 1.8% from 2.5% in the second quarter, and fixed investment spending also declined from the previous quarter, pointing to slackening domestic demand.A separate report showed that the number of Americans filing new claims for jobless benefits rose for a second week last week, but underlying trends still pointed to a recovery in the labor market.

RECOMMENDATION :

1. Buy USD/JPY Above 112.50-TG:112.70/113.00 SL 112.20
2. Sell USD/JPY Below 111.90-TG:111.70/111.40 SL 112.20

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

 

31Oct
forex-trading3

IForex Market Trading Signals and News – 31 October 2014

TRADING TIPS :

  • Forex-Dollar pares back gains before U.S. GDP report.
  • Forex-Euro off lows vs. dollar after euro zone data.
  • Forex- Dollar index hits 3-1/2 week highs after Fed ends QE

EUR/USD
EUR/USD was down 0.41% to 1.2580, off session lows of 1.2555.The single currency found support after official data showed that the number of people unemployed in Germany fell by 22,000 this month, compared to expectations for a gain of 5,000.The country’s unemployment rate was unchanged at 6.7%.The report came after data showing that Spain’s economy grew 0.5% in the three months September, and expanded 1.6% on a year-over- year basis, both in line with forecasts.A separate report showed that the annual rate of inflation in Spain remained below zero this month, falling 0.1% after declining 0.2% in September.

NZD/USD
NZD/USD hit 0.7774 during late Asian trade, the pair’s lowest since October 6; the pair subsequently consolidated at 0.7794, easing 0.10%. The pair was likely to find support at 0.7712, the low of October 6 and resistance at 0.7904, the high of October 27.In a widely expected move, the RBNZ held its benchmark interest rate at 3.50% and signaled that borrowing costs should remain on hold for an extended period of time. Commenting on the decision, RBNZ Governor Graeme Wheeler said the New Zealand dollar’s current level “remains unjustified and unsustainable,” adding that he expects “a further significant depreciation.”The U.S. central bank said that althoughthe jobs market is strengthening, there is still room for improvement, but not “significant improvement,” as it has said previously, in the labor market participation rate.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2619-TG:1.2639/1.2669 SL 1.2589
2. Sell EUR/USD Below 1.2575-TG:1.2555/1.2525 SL 1.2605

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

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.

© Copyright 2013, All Rights Reserved, Epic Research Pvt. Ltd.