Forex Market

18Jun
forex-market-hours

IForex Market Trading Signals and News of 18th June 2014

TRADING TIPS :

  • Forex – Euro at session lows vs. dollar after U.S. inflation data
  • Forex – Dollar higher vs. yen, euro after U.S. data
  • Forex – U.S. dollar rises to session highs against Canadian dollar

EUR/USD
EUR/USD was down 0.24% to 1.3540, holding above the four month trough of 1.3502 struck earlier this month. The pair was likely to find support at 1.3500 and resistance at 1.3586, the session high. The Labor Department said U.S. consumer prices rose at an annual rate of 2.1% last month, while prices were up 0.4% from a month earlier. It was the fastest increase in annual inflation since October 2008.

USD/JPY
USD/JPY was up 0.28% to 101.12 from 101.82 late Monday. The pair was likely to find support at 101.59, the low of June 12 and resistance at 102.40. The Labor Department reported that U.S. consumer prices rose at an annual rate of 2.1% last month, while prices were up 0.4% from a month earlier.

USD/CAD
USD/CAD was up 0.24% to 1.0870, from 1.0843 late Monday. The pair was likely to find support at 1.0834, Monday’s low and a two-week low and resistance at 1.0905. The Labor Department said U.S. consumer prices rose at an annual rate of 2.1% last month, while prices were up 0.4% from a month earlier

RECOMMENDATION :

1. Buy GBP/USD Above 1.7010- TG: 1.7040/ 1.7070 SL 1.6980
2. Sell GBP/USD Below 1.6930- TG: 1.6900/ 1.6870 SL 1.6960

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

17Jun
Forex Signals

IForex Market Trading Signals and News of 17th June 2014

TRADING TIPS :

  • Forex – GBP/USD gains on hawkish Carney statements
  • Forex – U.S. dollar edges higher against Canadian dollar
  • Forex – EUR/USD pares losses but remains under pressure

GBP/USD
GBP/USD hit 1.7011 during U.S. morning trade, the pair’s highest since August 6, 2009; the pair subsequently consolidated at 1.6986, adding 0.11%. Cable was likely to find support at 1.6950 and resistance at 1.7050. The pound strengthened broadly after Mark Carney said last Thursday that rapid economic growth and the steep decline in the jobless rate mean that the time to begin raising interest rates is growing closer.

USD/CAD
USD/CAD edged up 0.12% to 1.0869 from 1.0853 late Friday. The pair was likely to find support at 1.0821, the low of May 30 and resistance at 1.0905, Wednesday’s high. Crude oil prices touched session highs of $106.78 on Monday, as concerns over the ongoing Sunni insurgency in Iraq fuelled fears over the impact of reduced output from one of the world’s largest oil producers.

EUR/USD
EUR/USD pulled away from 1.3513, the pair’s lowest since June 12, to hit 1.3538 during European afternoon trade, inching down 0.02%. The pair was likely to find support at 1.3500 and resistance at 1.3570.

RECOMMENDATION :

1. Buy GBP/USD Above 1.7010- TG: 1.7030/ 1.7050 SL 1.6980
2. Sell GBP/USD Below 1.6950- TG: 1.6910/ 1.6870 SL 1.6980

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

13Jun
forex-trading3

IForex Market Trading Signals and News of 13th June 2014

TRADING TIPS :

  • Forex – USD/CAD edges lower after mixed U.S. data
  • Forex – Dollar little changed vs. euro, yen after U.S. data
  • Forex – EUR/USD steady ahead of U.S. data

USD/CAD
USD/CAD dipped 0.06% to 1.0861, the lowest since June 2.
The pair was likely to find support at 1.0821, the low of May 30 and resistance at 1.0905, Wednesday’s high.
The Labor Department reported that the number of people filing for initial jobless benefits in the week ending June 7 increased by 4,000 to 317,000. The consensus forecast had been for a decline of 3,000.

USD/JPY
USD/JPY was almost unchanged at 102.01, holding above the more than one-week low of 101.85 struck in the previous session.
The Labor Department reported that the number of people filing for initial jobless benefits in the week ending June 7 increased by 4,000 to 317,000. The consensus forecast had been for a decline of 3,000

EUR/USD
EUR/USD was trading at 1.3536, not far from the four-month low of 1.3502 set last Thursday.
The pair was likely to find support at 1.3500 and resistance at 1.3601, Tuesday’s high.
The euro has weakened broadly since the European Central Bank cut all its main rates to record lows last Thursday and imposed negative

RECOMMENDATION :

1. Buy GBP/USD Above 1.6840- TG: 1.6870/ 1.6910 SL 1.6705
2. Sell GBP/USD Below 1.6790- TG: 1.6755/ 1.6720 SL 1.6830

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

12Jun
Forex Signals

IForex Market Trading Signals and News of 12th June 2014

TRADING TIPS :

  • Forex – U.S. dollar drifts to 1-week lows against Canadian dollar
  • Forex – Broadly weaker euro remains under pressure
  • Dollar slips lower vs. rivals, but U.S. bond yields still support

USD/CAD
USD/CAD touched session lows of 1.0870 and was last trading at 1.0873, 0.27% lower for the day. The pair was likely to find support at 1.0845 and resistance at 1.0940, Monday’s high. Market participants were looking ahead to Thursday’s U.S. retail sales report for further indications on the strength of the economic recovery. The U.S. was also to release data on initial jobless claims.

GBP/USD
GBP/USD hit 1.6759 during U.S. morning trade, the pair’s lowest since June 5; the pair subsequently consolidated at 1.6767, shedding 0.21% . Cable was likely to find support at 1.6699, the low of June 4 and resistance at 1.6845, the high of June 6. The pound shrugged off an earlier report by the Office for National Statistics showing that U.K. manufacturing output rose 0.4% in April from a month earlier, as expected. On a year-over-year basis manufacturing production rose 4.4% ahead of forecasts for a 4% increase. It was the largest annual increase in output since early 2011.

USD/CAD
USD/CAD touched session lows of 1.0891 and was last trading at 1.0906, unchanged for the day. The pair was likely to find support at 1.0845 and resistance at 1.0946, Friday’s high. Demand for the greenback continued to be underpinned by higher U.S. Treasury yields. The yield on the U.S. 10- year treasury note rose to 2.63% on Tuesday, its highest in a month.

RECOMMENDATION :

1. Buy GBP/USD Above 1.6780- TG: 1.6810/ 1.6830 SL 1.6750
2. Sell GBP/USD Below 1.6720- TG: 1.6680/ 1.6660 SL 1.6750

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

11Jun
Forex trading

IForex Market Trading Signals and News of 11th June 2014

TRADING TIPS :

Forex – EUR/USD extends losses as U.S. Treasury yields rise
Forex – GBP/USD slips lower despite strong U.K. Data
Forex – U.S. dollar almost unchanged against Canadian dollar

EUR/USD
In U.S. trading, EUR/USD was down 0.38% at 1.3541, up from a session low of 1.3534 and off a high of 1.3602. The pair was likely to find support at 1.3503, Thursday’s low, and resistance at 1.3677, Friday’s high. Rising Treasury yields, four months of solid monthly jobs reports and other upbeat economic indicators in the U.S. sent investors chasing the dollar on Tuesday. On Friday, the U.S. Labor Department reported that the economy added 217,000 in May, close to expectations for a 218,000 increase. It was the fourth consecutive month in which the U.S. economy added more than 200,000 new nonfarm payrolls. The private sector added 216,000 jobs last month, exceeding expectations for a 210,000 gain.

GBP/USD
GBP/USD hit 1.6759 during U.S. morning trade, the pair’s lowest since June 5; the pair subsequently consolidated at 1.6767 shedding 0.21%. Cable was likely to find support at 1.6699,the low of June 4 and resistance at 1.6845, the high of June 6. The pound shrugged off an earlier report by the Office for National Statistics showing that U.K. manufacturing output rose 0.4% in April from a month earlier, as expected. On a year-over-year basis manufacturing production rose 4.4% ahead of forecasts for a 4% increase. It was the largest annual increase in output since early 2011

RECOMMENDATION :

1. Buy GBP/USD Above 1.6780- TG: 1.6810/ 1.6830 SL 1.6750
2. Sell GBP/USD Below 1.6720- TG: 1.6680/ 1.6660 SL 1.6750

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

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.

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