Forex Market

10Jun
forex-trading3

IForex Market Trading Signals and News of 10th June 2014

TRADING TIPS :

➔Forex – GBP/USD remains moderately lower in subdued trade
➔Forex – Dollar pushes higher against euro, little changed vs. yen

EUR/USD
➔EUR/USD slid 0.25% to 1.3609.
Borrowing costs in the euro zone fell to fresh record lows on Monday, as market sentiment was boosted by the European Central Bank’s decision last week to launch a package of measures to avert the threat of persistently low inflation in the euro area.
The yield on Spain’s 10-year bonds fell to 2.6% on Monday, falling below their U.S. equivalent which was yielding 2.61%. The yield on Ireland’s 10-year bonds fell to a euro-era record low of 2.61% while the yield on German 10-year bonds fell to the lowest against their U.S. counterpart since 2005.

GBP/USD
➔GBP/USD hit 1.6788 during U.S. morning trade, the session low; the pair subsequently consolidated at 1.6786, easing 0.09%.Cable was likely to find support at 1.6723, the low of June 5 and resistance at 1.6882, the high of May 27.On Friday, the Department of Labor reported that the U.S. economy added 217,000 jobs last month, just under expectations for jobs growth of 218,000, while the unemployment rate remained unchanged at a five-and- a-half year low of 6.3%.Meanwhile, demand for the pound continued to be underpinned by expectations for a rate hike by the Bank of England in the early part of next year.Data last Wednesday showed that the U.K. service sector expanded at a faster-than-expected rate in May, indicating that the economic recovery is continuing to deepen.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6803- TG: 1.6825/ 1.6845 SL 1.6780
2. Sell GBP/USD Below 1.6780- TG: 1.6760/ 1.6740 SL 1.6810

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

9Jun
Forex Signals

IForex Market Trading Signals and News of 09th June 2014

TRADING TIPS :

➔Forex – GBP/USD dips on solid U.S. May unemployment report
➔Forex – EUR/USD falls on solid U.S. May jobs report
➔Forex – USD/CAD almost unchanged after U.S., Canada jobs data

EUR/USD
➔EUR/USD was down 0.17% at 1.3639,up from a session low of 1.3621 and off a high of 1.3677.The pair was likely to find support at 1.3503, Thursday’s low, and resistance at 1.3723, the high from May 21.The U.S. Labor Department reported earlier that the economy added 217,000 in May, more or less in with expectations for a 218,000 increase, after a 282,000 rise in April, whose figure was revised down from a previously estimated 288,000 gain.The private sector added 216,000 jobs last month, exceeding expectations for a 210,000 gain, which drew market applause and firmed the dollar.

GBP/USD
➔GBP/USD was down 0.14% at 1.6796,up from a session low of 1.6782 and off a high of 1.6845 .Cable was likely to find support at 1.6699, Wednesday’s low, and resistance at 1.6.458, the earlier high.The U.S. Labor Department reported earlier that the economy added 217,000 in May, more or less in with expectations for a 218,000 increase, after a 282,000 rise in April, whose figure was revised down from a previously estimated 288,000 gain.The private sector added 216,000 jobs last month, exceeding expectations for a 210,000 gain, which drew market applause and firmed the dollar.The report also showed that the U.S.unemployment rate remained unchanged at 6.3% last month compared to expectations for a rise to 6.4%.The data, viewed by markets as not exceptionally robust, was still strong enough to keep expectations firm for the Federal Reserve to continue winding down its monthly bond-buying program, which weakens the dollar by suppressing long-term interest rates.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6815- TG: 1.6835/ 1.6865 SL 1.6785
2. Sell GBP/USD Below 1.6790- TG: 1.6770/ 1.6740 SL 1.6820

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

6Jun
forex-market-hours

IForex Market Trading Signals and News of 06th June 2014

TRADING TIPS :

➔Forex – USD/CAD pares losses after U.S., Canadian data
➔Forex – GBP/USD remains higher after BoE holds
➔Forex – EUR/USD hits 4-month lows on ECB rate cut, Draghi remarks

USD/CAD
➔USD/CAD pulled away from 1.0917, the pair’s lowest since Wednesday, to hit 1.0934 during European afternoon trade, still down 0.07%. The pair was likely to find support at 1.0885,the low of May 22 and  resistance at 1.0989, the high of May 5. Official data showed that building permits in Canada rose 1.1% in April, confounding expectations for an increase of 1.4%,after a 3.2% decline   in March, whose figure was revised down from a previously estimated 3% drop. Meanwhile, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending May 31 increased by 8,000 to 312,000 from the previous week’s revised total of 304,000.Analysts had expected jobless claims to rise by 6,000 to 310,000 last week.

GBP/USD
➔GBP/USD hit 1.6792 during early European afternoon trade, the pair’s highest since May 28; the pair subsequently consolidated at 1.6767, adding 0.17%.Cable was likely to find support at 1.6693, the low of May 29 and resistance at 1.6841, the high of May 16.In a widely expected move,the BoE’s Monetary Policy Committee voted to keep interest rates on hold at their current record low of 0.5%. The bank also made no change in its quantitative easing program, which remains at £375 billion.Expectations for a U.K. rate hike in the early part of next year have recently propelled sterling to multi-year highs against the dollar, after a string of strong economic reports indicated that the recovery is deepening..

RECOMMENDATION :

1. Buy GBP/USD Above 1.6815- TG: 1.6835/ 1.6865 SL 1.6785
2. Sell GBP/USD Below 1.6770- TG: 1.6750/ 1.6720 SL 1.6800

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

5Jun
Forex Signals

IForex Market Trading Signals and News of 05th June 2014

TRADING TIPS :

➔Forex – GBP/USD pares losses after U.K. service sector data
➔Forex – EUR/USD edges lower ahead of E.Z. data, ECB
➔Forex – USD/CAD rises to 1-month highs, BoC holds

EUR/USD
➔EUR/USD easing 0.02% to 1.3626.Payroll processing firm ADP said non-farm private employment rose by 179,000 in May, below expectations for an increase of 210,000. April’s figure was revised down to a gain of 215,000 from a previously reported increase of 220,000. A separate report showed that U.S. trade deficit widened to $47.24 billion in April, from $44.18 billion in March whose figure was revised from a previously estimated deficit of $40.40 billion. Analysts had expected the trade deficit to widen to $40.80 billion in April. Meanwhile, sentiment on the euro remained vulnerable after Eurostat on Tuesday said consumer price inflation in    the euro zone increased by 0.5% last month, down from 0.7% in April and missing expectations for a reading of 0.7%. The rate  stands well below the ECB target of near but just under 2%

GBP/USD
➔GBP/USD pulled away from 1.6699, the pair’s lowest since May 29, to hit 1.6720 during European morning trade, still down 0.18% .Cable was likely to find support at 1.6697, the low of April 14 and resistance at 1.6816, the high of May 28.Markit research group said the U.K. services purchasing managers’ index slipped to 58.6 last month, from a reading of 58.7 in April. Analysts had expected the index to fall to 58.2 in May. The data came a day after Markit said the U.K. construction PMI ticked down to 60.0 in May, from a reading of 60.8 the previous month, compared to expectations for the index to remain unchanged.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6790- TG: 1.6810/ 1.6840 SL 1.6760
2. Sell GBP/USD Below 1.6730- TG: 1.6710/ 1.6670 SL 1.6760

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

4Jun
forex-trading3

IForex Market Trading Signals and News of 04th June 2014

TRADING TIPS :

➔Forex – GBP/USD trims gains on U.K. construction data
➔Forex – EUR/USD steady, near 3-1/2 month lows

EUR/USD
➔EUR/USD hit 1.3607 during late Asian trade,the session high;the pair subsequently consolidated at 1.3605, easing up 0.06%.The pair was likely to find support at 1.3529,the low of January 23 and resistance at 1.3668, the high of May 27.Sentiment on the single currency was vulnerable after data on Friday showing that the annual rate of inflation in Italy and Spain slowed in May added to expectations that the ECB will take steps to tackle low consumer price growth, which is threatening the fragile recovery in the euro zone.Last week, ECB President Mario Draghi said the bank was aware of the risks of persistently low inflation and was prepared to take steps to get euro zone inflation back to its target, the latest indication that the bank is on course to ease monetary policy next week.

GBP/USD
➔GBP/USD pulled away from 1.6782, the session high, to hit 1.6763 during European morning trade, still up 0.09%. Cable was likely to find support at 1.6693, the low of May 29 and resistance at 1.6816, the high of May 28. Markit research group said the U.K. construction purchasing managers’ index ticked down to a seven-month low of 60.0 in May, from a reading of 60.8 the previous month. Analysts had expected the index to remain unchanged last month.The report came a day after Markit said the U.K. manufacturing PMI fell to 57.0 this month, from a reading of 57.3 in May, in line with expectations.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6790- TG: 1.6810/ 1.6840 SL 1.6760
2. Sell GBP/USD Below 1.6730- TG: 1.6710/ 1.6670 SL 1.6760

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

3Jun
forex-market-hours

IForex Market Trading Signals and News of 03rd June 2014

TRADING TIPS :

➔Forex – EUR/USD trims losses but remains under pressure
➔Forex – GBP/USD holds steady after disappointing U.S. data

EUR/USD
➔EUR/USD pulled away from 1.3594, the pair’s lowest since May 29, to hit 1.3619 during U.S. morning trade, still down 0.09%.In a report, the Institute of Supply Management said its manufacturing purchasing managers’ index ticked down to 53.2 in May, from a reading of 54.9 the previous month, confouding expectations for a rise to 55.5.Meanwhile, the single currency remained under pressure after data on Friday showing that the annual rate of inflation in Italy and Spain slowed in May added to expectations that the ECB will take steps to tackle low consumer price growth, which is threatening the fragile recovery in the single currency bloc.Earlier Monday, official data showed that German consumer price inflation accelerated at an annualized rate of 0.9% last month, down from 1.3% in April. Analysts had expected German consumer prices to rise by 1.1% in May.

GBP/USD
➔GBP/USD hit 1.6768 during U.S. morning trade, the session high; the pair subsequently consolidated at 1.6754, inching up 0.01%.Cable was likely to find support at 1.6693, the high of May 29 and resistance at 1.6816, the high of May 28.In a report, the Institute of Supply Management said its manufacturing purchasing managers’ index ticked down to 53.2 in May, from a reading of 54.9 the previous month, confouding expectations for a rise to 55.5. The data came after a string of disappointing U.S. economic reports on Friday dented optimism over the strength of the country’s economic recovery.In the U.K., Markit research group said the U.K. manufacturing PMI ticked down to 57.0 in June, from a reading of 57.3 the previous month, in line with expectations.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6790- TG: 1.6810/ 1.6840 SL 1.6760
2. Sell GBP/USD Below 1.6730- TG: 1.6710/ 1.6670 SL 1.6760

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

2Jun
forex-trading3

IForex Market Trading Signals and News of 02nd June 2014

TRADING TIPS :

➔Forex – GBP/USD gains on soft U.S. consumer sentiment report
➔Forex – EUR/USD gains on soft U.S. sentiment, personal spending data
➔Forex – USD/CAD rises but gains limited after U.S., Canadian data

EUR/USD
➔EUR/USD was up 0.24% at 1.3635, up from a session low of 1.3598 and off a high of 1.3650.The pair was likely to find support at 1.3586, Thursday’s low, and resistance at 1.3668, Tuesday’s high.The revised Thomson Reuters/University of Michigan consumer sentiment index ticked up to 81.9 this month from 81.8 in April, missing market expectations for a reading of 82.5.While harsh winter weather dampened spirits, concerns wages will remain weak did more so.”The May decline in consumer confidence was not due to the dismal state of the economy during the 1st quarter, which had the weakest pace of GDP growth in three years. Consumers thought the harsh winter weather was mainly responsible,” the indicator’s statement read.Consumer sentiment would suffer more if the economy failed to rebound in the months ahead, though the survey revealed that consumers feel the economy will be strong enough to produce more jobs in the year ahead.

GBP/USD
➔GBP/USD was trading at 1.6762, up 0.27%, up from a session low of 1.6715 and off a high of 1.6778.Cable was likely to find support at 1.6693, Thursday’s low, and resistance at 1.6882, Tuesday’s high.The revised Thomson Reuters/University of Michigan consumer sentiment index ticked up to 81.9 this month from 81.8 in April, missing market expectations for a reading of 82.5.While harsh winter weather dampened spirits, concerns wages will remain weak did more so.”The May decline in consumer confidence was not due to the dismal state of the economy during the 1st quarter, which had the weakest pace of GDP growth in three years.Consumers thought the harsh winter weather was mainly responsible,” the indicator’s statement read. Consumer sentiment would suffer more if the economy failed to rebound in the months ahead, though the survey revealed that consumers feel the economy will be strong enough to produce more jobs in the year ahead.

RECOMMENDATION :
1. Buy GBP/USD Above 1.6790- TG: 1.6810/ 1.6840 SL 1.6760
2. Sell GBP/USD Below 1.6750- TG: 1.6730/ 1.6700 SL 1.6780

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

30May

IForex Market Trading Signals and News of 30th May 2014

TRADING TIPS :

➔Forex – USD/CAD hits session lows after Canadian, U.S. data
➔Forex – Dollar at 1-week lows against yen ahead of U.S. data
➔Forex -Dollar index off lows after mixed U.S. data

USD/JPY
➔USD/JPY touched lows of 101.47, the weakest since May 22 and was last down 0.27% to 101.57.The pair was likely to find support at 101.34 and resistance at 102.02, Wednesday’s high.The yield on U.S. 10-year Treasury notes fell to 2.42% on Thursday, the lowest since July 2013, amid ongoing uncertainty over the outlook for the global economic recovery.The dollar -yen pair is very sensitive to fluctuations in U.S. treasury yields.Revised data on U.S. gross domestic product scheduled for release later Thursday was expected to show that the economy contracted 0.5% in the first three months of the year, after the preliminary estimate showed growth of just 0.1%.

USD/CAD
➔USD/CAD touched lows of 1.0851 and was last down 0.15% to 1.0858.The pair was likely to find support at 1.0815 and resistance at 1.0900.Statistics Canada said the country’s current account deficit narrowed to C$12.4 billion in the first quarter from a deficit of C$15.6 billion in the preceding three months. Analysts had expected Canada’s current account deficit to narrow to C$13.0 billion.In the U.S., updated data showed that the economy slowed sharply in the first three months of the year, while a separate report showed a larger than expected decline in initial jobless claims.The Commerce Department reported that U.S. gross domestic product contracted 1.0% in the first quarter, after the preliminary estimate showed growth of 0.1%. Market expectations had been for a 0.5% contraction.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6770- TG: 1.6790/ 1.6820 SL 1.6740
2. Sell GBP/USD Below 1.6690- TG: 1.6670/ 1.6640 SL 1.6720

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

29May
forex-market-hours

IForex Market Trading Signals and News of 29th May 2014

TRADING TIPS

➔Forex – USD/CAD steady near 2-week lows
➔Forex – Euro drops to fresh 3-month lows against dollar
➔Forex – Pound extends losses against dollar

EUR/USD
➔EUR/USD hit lows of 1.3605, the weakest since February 13 and was last down 0.21% to 1.3607.The pair was likely to find support at 1.3575 and resistance at 1.3636, the session high.The euro has weakened broadly against the other major currencies, falling more than 2% against the dollar since the ECB indicated at its May 8 meeting that it is comfortable with easing monetary policy in June to help shore up the fragile recovery in the region.On Tuesday, ECB President Mario Draghi said the bank was aware of the risks of persistently low inflation and was prepared to take steps to get euro zone inflation back to its target, the latest indication that the bank could ease monetary policy as soon as next week.The annual rate of euro zone inflation was 0.7% in April, well below the ECB’s target of close to but just below 2%.

USD/CAD
➔USD/CAD was almost unchanged at 1.0857, not far from Tuesday’s two-week lows of 1.0835.The pair was likely to find support at 1.0815, the low of May 9 and resistance at 1.0900.Market sentiment continued to be underpinned after data on Tuesday showed that U.S. durable goods orders rose unexpectedly in April and another report showed that U.S. consumer confidence improved in line with forecasts this month.The Commerce Department said orders for long lasting manufactured goods rose 0.8%, compared to expectations of a 0.7% decline.Separately, the Conference Board reported that its consumer conference index rose to 83 in May, up from a revised 81.7 in April, in line with economists’ expectations.Risk appetite was also boosted by mounting expectations that the European Central Bank will implement new easing measures at its upcoming policy meeting next week, in order to shore up the fragile recovery in the euro zone.

RECOMMENDATION:-

1. Buy GBP/USD Above 1.6770- TG: 1.6790/ 1.6820 SL 1.6740
2. Sell GBP/USD Below 1.6690- TG: 1.6670/ 1.6640 SL 1.6720

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

28May
Forex Signals

IForex Market Trading Signals and News of 28th May 2014

TRADING TIPS

➔Forex – Dollar steady to lower vs. rivals ahead of U.S. data
➔Forex – GBP/USD pares gains after downbeat U.K. data
➔Forex – EUR/USD steady, Draghi comments still weigh

EUR/USD
➔EUR/USD hit 1.3643 during late Asian trade, the pair’s highest since May 22; the pair subsequently consolidated at 1.3654, inching   up 0.06%.The pair was likely to find support at 1.3585, the low of February 13 and resistance at 1.3723, the high of May 21.On Monday, ECB President Draghi said the bank saw a risk of a deflationary cycle taking hold in the euro zone.Draghi said the ECB is ready to act should it see signs of a negative inflation spiral taking hold, and indicated that the bank is weighing a wide range of policy options, including interest rate cuts, and liquidity injections or broad-based asset purchases to help shore up the fragile recovery in the euro area.

GBP/USD
➔GBP/USD pulled away from 1.6882, the pair’s highest since May 22, to hit 1.6853 during European still up 0.06%.Cable was likely to find support at 1.6802, the low of May 20 and resistance at 1.6917, the high of May 22.Industry data earlier showed that U.K. mortgage approvals rose by 42,200 last month, compared to expectations for a 45,200 increase. Mortgage approvals in March were revised down to a 45,000 rise from a previously estimated 45,900 increase.Demand for sterling continued to be underpinned after Bank of England Deputy Governor Charles Bean said Saturday that U.K. interest rates could start rising before next spring.

RECOMMENDATION:-

1. Buy GBP/USD Above 1.6860- TG: 1.6880/ 1.6910 SL 1.6828
2. Sell GBP/USD Below 1.6800- TG: 1.6780/ 1.6750 SL 1.6830

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

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