Forex Technical Analysis : Japanese Yen


  • USD/JPY has vacillated, however it stays above numerous key close term bolsters
  • With enter central information in the offing, now won’t not be the best time to venture in
  • GBP/JPY’s viewpoint appears somewhat more downbeat

    The Japanese Yen is arranging an extremely unassuming fightback against the US Dollar following quite a while of tenacious bullishness towards the greenback.

    USD/JPY appears to be probably to have made some sort of best finally Monday’s intraday high. That came in at 111.39. The US Dollar has been declining since, some portion of a wide based retracement which has seen it bring down against the New Zealand and Australian Dollars as well, regardless of whether the Euro stays under a touch of weight because of political stresses in Italy.

    All things considered, it may not bode well to wager on a far reaching turnaround in US Dollar slant presently. USD/JPY’s retracement has been very unobtrusive and for the minute in any event appears to be constrained to a help zone got from the past huge pinnacles, which were made toward the beginning of February.


    Regardless of whether these give route once a day, bolster in the vicinity of 109.00 and 110.00 looks genuinely strong. It appears to be likely that what we are seeing here is a touch of combination that Dollar bulls could honestly do with, having pushed the match’s force up to levels at which it was beginning to look a little overbought.

    The uncommitted may now do well to hold up until the point that business sectors have seen the minutes of the Federal Reserve’s last money related arrangement meeting. These are expected for discharge on Wednesday, or early Thursday morning for Asia Pacific financial specialists. On the off chance that they fortify the Fed stays by some separation the most forceful arrangement tightener in the created world, it’s difficult to see the US Dollar falling extremely far. Without a doubt such a message may encourage Dollar bulls to have another tilt at those Monday highs.

    A more tepid understanding of the Fed could see a more extensive slide USD/JPY. Anyway even the initial, 23.6% Fibonacci retracement of the ascent since early April comes somehow beneath the market at 109.79.


    While that is secure the possibility of a more genuine Dollar inversion appears to be sparse.

    In the mean time the UK Pound likewise appears to have bested out against the Japanese cash this week, and its anticipation looks somewhat gloomier. Quick GBP/JPY center is around a group of presumably unobtrusive help at the current month’s lows.


    Should that give route at that point there’s very little between the Pound and finish inversion of the move up from March.



Comex Gold Signal

                                                                                    Comex Gold Signal

Comex Gold Signal

Comex Gold Signal


  • Demand for gold fell on Friday, amid a strengthening U.S. dollar. Comex gold futures for June delivery were down 0.08% to $1,288.40 a troy ounce as of 10:13 AM ET (14:13 GMT). The price of bouillon was driven lower by the rise in the greenback and increase in bond yields. The U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, was at a five-month high of 93.69.
  • WTI crude oil prices settled lower on Friday, but notched their third straight week of gains as falling production in Venezuela and pending U.S. sanctions on Iran helped offset signs of an expansion in U.S. output. On the New York Mercantile Exchange crude futures for June delivery fell 21 cents to settle at $71.28 a barrel, while on London’s Intercontinental Exchange, Brent fell 74 cents to trade at $78.56 a barrel.
  • Natural gas markets rallied a bit during the day on Friday, reaching towards the $2.86 level before rolling over again. Natural gas markets continue to be very noisy, as we have a lot of questions out there as to whether the rally can continue due to the longer-term oversupply issues. The market continues to see this up-trending channel hold the markets intact, so it’s not a surprise it we can break out on a Friday.


  • China’s economy will likely expand around 6.7 percent in the second quarter this year, the State Information Center (SIC) said in an article published in the state-owned China Securities Journal on Saturday. The forecast growth rate was slightly slower than an actual 6.8 percent expansion in the first quarter. The SIC is an official think tank affiliated with the National Development and Reform Commission, the country’s top economic planning agency.
  • China’s push to open up its financial sector to foreign banks and financial institutions will be based on the principle of reciprocity and will not reward protectionism by other countries, an official said on Saturday. Chen Wenhui, the vicechairman of the China Banking and Insurance Regulatory Commission (CBIRC), told a forum that China aimed to accelerate the process of opening up, but countries afraid of exposing their own financial sectors to competition would not benefit.
  • Australian Prime Minister Malcolm Turnbull will travel to China later this year to smooth over bumpy diplomatic ties that have now developed into trade problems for some of Australia’s biggest wine and beverage exporters, Fairfax Media reported. Relations between the two trade partners have cooled significantly in recent months, after Turnbull’s conservative coalition government proposed a bill to limit foreign influence in Australia, including political donations, but which Beijing has interpreted as “anti-China”.

Comex Gold Signal


Rupee picks up 10 paise to 67.70 against dollar

Belying fears about surging unrefined costs, the rupee figured out how to hold its ground against the US money for the second-in a row day, picking up by 10 paise to end at 67.70 a dollar.

The Indian money demonstrated shockingly flexible in spite of a sharp surge in worldwide rough costs which alarmingly touched a high of USD 80 a barrel on supply press.

Suspected overwhelming money advertise liquidity intercession by the Reserve Bank of India transcendently helped the rupee to remain above water in the midst of bullish abroad feeling.

The home unit, which is the most noticeably awful performing Asian market cash, is by all accounts very nearly recuperation subsequent to diving to a crisp 16-month low of 68.15 on Wednesday, a forex merchant said.

Intensifying residential macros against the dreary setting of bubbling unrefined costs and approaching Fed rate climb fears alongside dollar quality has been the key ruling power in forex advertises lately.

On the vitality front, unrefined costs shot up to hit USD 80 a barrel out of the blue since November 2014 on developing stresses of a sharp drop in Iranian oil sends out in the coming a very long time because of recharged US sanctions, lessening supply in an as of now fixing market.

The Brent rough prospects, a worldwide benchmark, was exchanging higher at USD 79.97 a barrel after quickly hitting USD 80 in early Asian exchange.

Meanwhile, the dollar was drifting close to its largest amounts in five months against a container of other real monetary forms as rising US government security yields kept on supporting interest for the money.

Neighborhood values, notwithstanding, kept on seeing huge loosening up as anxious speculators forgot about cash in the midst of political wrangling in Karnataka and solidifying raw petroleum costs.

Expanding its recuperation energy, the rupee continued higher at 67.72 from overnight close of 67.80 at the Interbank Foreign Exchange (Forex) showcase on supported dollar offering by banks and exporters.

Picking up a solid footing notwithstanding facilitating dollar weight, the rupee touched an intraday high of 67.58 in mid morning bargains, however in the long run pared early solid increases to end at 67.70, demonstrating a pick up of 10 paise, or 0.14 for each penny.

The RBI, then, settled the reference rate for the dollar at 67.7156 and for the euro at 79.8909.

Then, the yield on the benchmark 10-year government security developing in 2028 diminished to 7.88 for every penny.

The dollar file, which measures the greenback’s an incentive against a bin of six noteworthy monetary standards, was higher at 93.38.

In the cross cash exchange, the rupee fortified against the pound sterling to settle at 91.31 for every pound from 91.41 and solidified against the euro to end at 79.79 from 79.85 prior.

It likewise solidified against the Japanese Yen to close at 61.21 for every 100 yens when contrasted with 61.55.

Somewhere else, the regular money, euro stayed worried against the greenback on theory that Italy’s conceivable new coalition government would hope to discount a sizeable lump of Italian open obligation, delivering the most exceedingly awful of market fears.

The British pound is exchanging humbly bring down in the wake of sliding over from early highs on reports that the UK is set up to remain in the traditions association past 2021.

In forward market today, premium for dollar floated additionally attributable to reliable getting from exporters.

The benchmark half year forward premium payable in September facilitated to 93.25-95.25 paise from 95-96.50 paise and the far-forward February 2019 contract moved down to 227-229 paise from 229-230 paise beforehand.


Singapore stocks: STI resumes Wednesday exchanging at 3,531.83, down 0.2%

SINGAPORE stocks continued exchanging lower on Wednesday evening, with the Straits Times Index falling 8.4 focuses, or 0.2 for each penny to 3,531.83 as at 1.05pm.

Failures dwarfed gainers 210 to 128, after around 906.9 million offers worth S$660.6 million changed hands.

The most effectively exchanged counter by volume was Ezion, which rose 5.2 for each penny, or 0.6 Singapore penny to 12.1 Singapore pennies, with 96.9 million offers exchanged.

Other dynamic list stocks included Venture Corp which was down 3.6 for each penny to S$21.38; and Genting Singapore which fell 2.3 for every penny to S$1.29.




                                                                                Comex Gold Signal

Comex Gold Signal

Comex Gold signal


  • Gold prices fell below the $1,300 level on Tuesday, hitting the lowest levels since December as the U.S. dollar and Treasury yields moved higher after slightly stronger than expected U.S. retail sales figures. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange were down $23.80 or 1.81% to $1,294.40 a troy ounce by 09:26 AM ET (13:26 GMT), a level not seen since late December.
  • Natural gas futures rose to its best level in around there months on Tuesday, as updated forecasting models pointed to above-average temperatures covering most of the country through the end of May. That should help boost early summer cooling demand for the fuel. Front-month U.S. natural gas futures tacked on 0.9 cents, or around 0.3%, to $2.849 per million British thermal units (btu) by 8:20AM ET (1220GMT), after hitting an intraday high of $2.856, the strongest since February 5.
  • Oil prices hit fresh three-and-a-half-year highs on Tuesday, as looming U.S. sanctions against Iran raised fears that markets will face shortages later this year when trade restrictions come into effect. Brent crude futures, the benchmark for oil prices outside the U.S., rose to a session peak of $79.22 a barrel at one point, a level not seen since November 2014. It was last at $79.00 by 8:05AM ET (1205GMT), up 80 cents, or about 1%. Meanwhile, New York-traded WTI crude futures were up 51 cents, or 0.7%, to $71.48 a barrel, not far off their Nov.


  • U.S. inflation is rising toward the Federal Reserve’s 2 percent goal while not accelerating enough to suggest the economy is overheating, Dallas Federal Reserve President Robert Kaplan said on Tuesday. Inflation is approaching two percent but it’s “not running away from us,” he said at an event titled “Energy, Trade, and Energy Growth” sponsored by the Council for Foreign Relations.
  • Mexico’s economy minister said on Tuesday that he saw diminishing chances for a new North American Free Trade Agreement ahead of a May 17 deadline to present a deal that could be signed by the current U.S. Congress. U.S. House Speaker Paul Ryan has said that the Republican-controlled Congress would need to be notified of a new NAFTA deal by Thursday to give lawmakers a chance of approving it before a newly elected Congress takes over in January.
  • The European Union is interested in improving its trade ties with the United States but it will not make concessions to secure an exemption from U.S. metals tariffs and would need to consult its 28 members, a senior EU official said on Tuesday. “We are open for improving our trade relations… but it’s not a concession in order to get a permanent exemption from higher steel and aluminium tariffs,” Commission Vice-President Jyrki Katainen told a news conference.

Comex Gold Signal



Japanese Yen : USD/JPY Technical Analysis


  • The Japanese Yen’s beating at the Dollar’s hands goes on
  • The principal reason for it seems to have extended
  • The Australian Dollar is shriveling against the Japanese money

    The Japanese Yen stays under grave weight against the US Dollar from a principal point of view.

    The most recent extremely feeble development information from Japan brought the drapery down on a nine-quarter keep running of monetary development. It has likewise thrown mists over the nation’s ‘Abenomics’ change design and, without a doubt, kicked any prospect of more tightly financial approach from the Bank of Japan far into the long grass.

    Actually this development shortcoming has just supported an as of now reinforcing US Dollar. USD/JPY now plays by and by with the highs of early February which are around current levels.

    On the off chance that Dollar bulls can hold their nerve up here, at that point their next target will be late January’s highs in the 111.50 district which thusly monitor the way move down the year’s pinnacles. These would appear to be famously reachable right now given the yawning and, apparently broadening hole in money related approach among Tokyo and Beijing. However advance toward them will most likely be estimated and set apart by times of solidification.


    Inversions will presumably discover bolster at the current up-channel base, which by and by comes in at 109.42 or somewhere in the vicinity. This channel has been genuinely all around regarded both to the upside and the down, however more clear Dollar bulls may well need to see another upside test soon. After all that upper bound remains very some route over the market, for all the greenback’s present power, at 111.43.


    The Australian Dollar has been another remarkable casualty of US Dollar quality however it is likewise withering against the Yen. AUD/JPY appears to have made yet another lower high on its day by day graph in the previous couple of days, with the attention by and by on the drawback.

    Bulls should shield the past critical low at JPY81.20 on the off chance that they’re not to need to manage a plausible more extensive slide the distance down to April’s lows of JPY80.55.


    A fall this far would put genuine question marks over the whole ascent up from late 2016’s lows, which came in at JPY75.10.




                                                                                      Comex Gold Signal




  • Gold prices were roughly unchanged on Friday but looked set to post a first weekly gain in four weeks as dollar weakness continued following a recent bout of softer inflation data. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange fell by $0.80 or 0.06%, to $1,321.40 a troy ounce. Weaker inflation data seen earlier this week continued to drive direction, prompting traders to scale back their expectations for a faster pace of Federal Reserve rate hikes, pressuring both the 10-yield treasury and the dollar, underpinning gold prices.
  • Crude oil prices settled lower on Friday but posted a weekly gain as sentiment remained positive despite signs of an increase in U.S. production as rig counts jumped for the sixth week in a row. On the New York Mercantile Exchange crude futures for June delivery fell 66 cents to settle at $70.70 a barrel, while on London’s Intercontinental Exchange, Brent fell 0.54% to trade at $77.05 a barrel.
  • More destructive lava flows could soon hit Hawaii’s Big Island as the Kilauea volcano erupts, posing a greater threat than oozing magma that has so far destroyed dozens of homes and forced thousands to evacuate, scientists said on Friday. As a lava lake at Kilauea’s summit drains inside the volcano, magma is running underground. It could burst to the surface as large, fast-moving and intensely hot lava flows and produce higher levels of toxic gases, Hawaiian Volcano Observatory scientist-in-charge Tina Neal said.


  • Ousted Malaysian Prime Minister Najib Razak said on Saturday that he and his family would respect an immigration department ban on his travel abroad and stay in the country. Najib said earlier on his Facebook (NASDAQ:FB) that he and his family were taking a holiday overseas from Saturday and would return next week. But, moments later, the immigration department said on its official Facebook page that Najib and his wife, Rosmah Mansor, were blacklisted from leaving Malaysia.
  • Malaysian authorities barred ousted Prime Minister Najib Razak and his wife from leaving the country on Saturday, amid reports that the government was reopening investigations into a multi-billion-dollar graft scandal at a state fund he founded. The order by immigration authorities came minutes after Najib said in a Facebook (NASDAQ:FB) post that he and his wife, Rosmah Mansor, were taking a week-long holiday overseas to rest after his thumping defeat in Wednesday’s general election.
  • The new U.S. ambassador to Germany said the row over Washington’s planned imposition of punitive tariffs on European goods would not trigger a trade war, adding that President Donald Trump only wanted “a level playing field”. In an interview with the Funke newspaper group, Richard Grenell insisted that the United States was awaiting proposals on how punitive tariffs could be averted.



Epic Research : Forex Market Insight


Forex -Dollar On Track to Snap 4 Week Winning Streak as EUR/USD Gains
Forex -EUR/USD consolidates recovery from 4 month lows
Forex -GBP/USD trims daily gains, holds in weekly range


The EUR/USD pair is rising on Friday for the second day in a row but it was unable to extend gains during the American session as the US Dollar recovered strength on the back of rising US yields. The euro peaked on Friday at 1.1969, the highest since Monday. The area around 1.1970 capped the upside. EUR/USD is about to end the week, steady  moving  in  a  range  between  1.1930  and  1.1960, marginally  below  the  level it closed last week. EUR/USD recovered  ground  after  falling  on  Wednesday  to  1.1821, the  lowest  since  December.The weekly close far from the lows could signal some consolidation ahead. Some bearish pressure is still seen. The weekly chart is about to form  a doji,  after rebounding at the 20 week  moving  average.Next week,key data from the Euro zone is due, including GDP, NEW survey and CPI. In the US, retail sales on Tuesday area likely to gain attraction.


The GBP/USD failed  again  to  break  above  1.3600  and  retreated  back  below  1.3550 amid a recovery of the US dollar across the board. Recently dropped to 1.3531 and it was  hovering around 1.3540. The greenback trimmed losses the board during the American  session  and  extended  gains  against  most  of  emerging  market  currencies. US Dollar Index Futures rose from 92.19 to 92.42 supported by a bounce in US yields that turned higher.Regarding data, the US Preliminary Consumer Sentiment Index (University of Michigan) for May came in at 98.8, slightly above  the  98.5  expected  by  market  analysts.  Cable  is  still  modestly  higher  for  the day  but  the  momentum  eased.  It  continues  to  move  sideways  as  it  has  been  the case since last week. GBP/USD continues to move in a consolidation range between 1.3500  and  1.3600.  Today  it  is  headed  toward  the  sixth  daily  close  between  1.3515 and 1.3550.



Iforex Market Insight : Epic Research


Forex- Dollar Backs Off 2018 Highs as Rally Pauses
Forex- EUR/USD could see gains extended to 1.2000/50
Forex- GBP/USD bulls challenge the 1.3600 handle as US Dollar retreats from highs

The correction lower in the buck remains well and sound on Wednesday and is now allowing EUR/USD to  move  closer  to  the  1.1900  handle,  or  session  peaks.  The  pair  is  edging higher today following the renewed softer tone around the greenback. In fact, seems USD sellers  have  stepped  in  today  in  response  to  the  strong  rebound  in  the  buck  in  recent weeks, which managed to retake the 93.00 handle and above, area last visited in December 2017. Adding to today’s offered bias in USD, US Producer Prices rose less than expected during April at an annualized 2.6% and 0.1% inter month. Core prices rose 0.2% on a monthly basis and 2.3% over the last twelve months. At the moment, the pair is gaining 0.10% at 1.1877 facing the next hurdle at 1.1984 (10 day sma) seconded 1.2018 (200 day sma)  and  finally  1.2153  (low  Mar.1).  On  the  downside,  a  break  below  1.1823  (2018  low May 8) would open the door to 1.1768 (78.6% Fibo of November February up move) and finally 1.1718 (monthly low Dec.12 2017).


The  GBP/USD  is  trading  at  around  1.3593  up  0.34%  on Wednesday  as  investors  are slowly  unwinding  their  short  GBP/USD  positions  ahead  of  the  Bank  of  England  rate decision and quarterly Inflation Report on Thursday. Cable bulls gathered some momentum and managed to orchestrate a counter trend move from the 1.3500 handle earlier in the European session to challenge the 1.3600 handle in the American session. The  US  dollar  is  trading  lower  on  Wednesday  below  the  93.00  mark  as  investors  are  taking  some  profits  off  the  table  after  US  President  Trump  announced  on Tuesday that he withdrew the US from the Iran nuclear deal. Adding pressure to the greenback  is  the  worse than expected  Producer  Price  Index  (PPI)  data.  The  PPI  ex Food  and  Energy  year on year  to  April  came  below  expectations  at  2.3%  against 2.4% forecast by analysts. Technically, the GBP/USD is oversold and there is a combination of unwinding short positions and bottom pickers which is keeping the cable in the 1.3500 – 1.3600 range.

10 fx




                                                                                  Comex Gold Signal




  • Gold prices gained on Monday as the dollar slid against the other major currencies in Asia, but remained at its 4-month highs of above the 92 level. The U.S. and China issued a long list of demands for each other in Beijing on Friday, as the two nations attempted to resolve the trade dispute between them. China requested the 25% extra tariffs lifted, while the U.S. expressed concerns over intellectual properties, according to reports.
  • Natural gas futures started the week in positive territory on Monday, as updated forecasting models pointed to aboveaverage temperatures covering most of the country over the next two weeks. That should help boost early summer cooling demand for the fuel. Front-month U.S. natural gas futures jumped 5.4 cents, or around 2%, to $2.765 per million British thermal units (btu) by 9:15AM ET (1315GMT).
  • China’s main ports will step up quarantine checks on imports of apples and logs from the United States, and shipments found carrying disease or rot could be returned or destroyed, the Chinese customs agency said on Monday. Reuters reported last week that the main Chinese ports of entry have ramped up checks on fresh fruit imports from the United States, which could delay shipments from U.S. growers already dealing with higher tariffs as China-U.S. trade ties sour.


  • China’s commerce ministry said on Monday U.S. unilateralism and protectionism may lead to an escalation of global trade friction and could derail the pace of global economic recovery. China does not deliberately pursue a trade surplus, the Ministry of Commerce said in a report that summarizes China’s past foreign trade situations, while calling for joint efforts between the United States and China to resolve trade disputes.
  • Emergency authorities battling lava flows and gas erupting from Hawaii’s Kilauea volcano warned some residents to “go now” as a new fissure opened and more structures were destroyed. Kilauea has destroyed 26 homes and forced 1,700 people to leave their residences since it erupted on Thursday, spewing lava and toxic gas from volcanic vents in a small area of Hawaii’s Big Island.
  • Afghanistan’s poverty rate has worsened sharply over the past five years as the economy has stalled and the Taliban insurgency has spread, with more than half the population living on less than a dollar a day, a survey published on Monday showed. The Afghanistan Living Conditions Survey (ALCS), a joint study by the European Union and Afghanistan’s Central Statistics Organisation, showed the national poverty rate rising to 55 percent in 2016-17 from 38 percent in 2011-12.



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