29Sep
forex-trading3

IForex Market Trading Signals and News – 29 September 2014

TRADING TIPS :

  • Forex-Dollar steady, near 4-year peak ahead of U.S. data.
  • Forex-Asian Currencies Decline for Fourth Week on Fed Rate Outlook .
  • Forex-Joining Euro Risks Denting Lithuania’s Fiscal Resolve: Economy.

EUR/USD
EUR/USD hit 1.2738 during late Asian trade, the session low; the pair subsequently consolidated at 1.2742, dipping 0.06%.The pair was likely to find support at 1.2660 and resistance at 1.2864, the high of September 24.The euro remained under pressure after data showed that the Gfk German consumer climate index ticked down to 8.3 this month, from a reading of 8.6 in August. Analysts had expected the index to slip to 8.5.The report added to concerns over the outlook for growth in the euro zone’s biggest economy as data on Wednesday showed that Germany’s Ifo business confidence index deteriorated for the fifth successive month in September.

GBP/USD
GBP/USD hit 1.6286 during European morning trade, the session low; the pair subsequently consolidated at 1.6315, easing 0.01%.Cable was likely to find support at 1.6244, the low of September 18 and resistance at 1.6416, the high of September 24.Demand for the dollar remained supported by mounting expectations for an early U.S. rate hike.Dallas Federal Reserve President Richard Fisher signalled on Thursday that the U.S. central bank may start raising interest rates around the spring of 2015.The pound had strengthened earlier in the week as investor focus returned to the outlook for U.K. monetary policy in the wake of last week’s Scottish independence referendum.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2745-TG:1.2765/1.2795 SL 1.2715
2. Sell EUR/USD Below 1.2672-TG:1.2652/1.2622 SL 1.2702

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

29Sep
sgx 29 sep 14

Financial Sgx Singapore Stock Market Trading Picks And News – 29 September 2014

MARKET UPDATES :

  • Singapore shares finished the day higher on Friday with the benchmark Straits Times Index up 1.22 points to close at 3,292.21 Volume was 1.19 billion shares worth S$763.1 million. Losers outnumbered gainers 252 to 150.
  • Singapore sovereign wealth fund GIC said on Thursday it had bought a stake in RAC Ltd, Britain’s second largest roadside recovery firm, from private equity fund Carlyle Group LP for an undisclosed amount. GIC did not specify the size of the stake it had bought, but said it and Carlyle will now jointly own a majority stake in RAC, with the company’s management holding the remaining stake. Carlyle Group bought RAC Ltd in 2011 for US$1.63 billion. A person familiar with the GIC transaction said RAC now had an enterprise value, including debt, of around 2 billion pounds(S$4,136,248,009). The stake sale to GIC now means Carlyle Group will hold off on an initial public offering for RAC Ltd for now, the statement added.
  • SINGAPORE’S industrial output grew at a slower pace than expected in August at 4.2 per cent, as expansions in the biomedical manufacturing and electronics sectors offset a contraction in transport engineering activity. Economists polled by Bloomberg before the Economic Development Board (EDB) released the data on Friday had been expecting industrial production to rise by 4.9 per cent Excluding the volatile biomedical sector – which grew 9.7 per cent last month – output would have risen by a smaller 3 per cent . The electronics cluster, which retains the largest weight of 33.4 per cent on the industrial production index, swung back from contraction mode in August. Electronics production increased 7.2 per cent, in part due to a low base last year when demand was weak for the computer peripherals segment.
  • THE Agency for Science Technology and Research (A*Star), Nanyang Technological University (NTU) and National Healthcare Group (NHG) on Friday inked a deal to collectively invest S$100 million in the Rehabilitation Research Institute of Singapore (RRIS) Speaking at the opening of the Singapore Health & Biomedical Congress 2014, Health Minister Gan Kim Yong said the institute aims to develop innovative technologies in the field of rehabilitation medicine, by leveraging the scientific, engineering and clinical expertise of its founding partners Some S$100 million will be channelled towards developing research capabilities, new technologies and strengthening the talent pipeline Key areas of study will include stroke and neurological rehabilitation, clinical robotics and biomechanics .
  • Asian shares got off to a rocky start on Friday after a sharp drop on Wall Street, which curbed enthusiasm for the dollar even after the US unit touched multi-year highs in the previous session. US stocks ended sharply lower, as Apple Inc broke under key technical levels after the tech giant withdrew an update to its new operating system. That pushed the S&P 500 to its biggest one-day decline since July. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent in early trade, poised for a weekly loss over 2 per cent..
  • TEHO International on Thursday announced that it had entered into a non-binding letter of intent with Eric Cheng and three others to acquire a full stake in ECG Property Services for S$17 million.

STOCK RECOMMENDATION :

  • BUY HONGKONG LAND ABOVE 6.850 TG 6.920, 7.000, 7.100 SL 6.750

Fore more information about SGX stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

26Sep
Forex Signals

IForex Market Trading Signals and News of 26 September 2014

TRADING TIPS :

  • Forex-Dollar hits fresh 4-year highs vs. rivals on U.S. optimism.
  • Forex- Pound slips lower against stronger dollar .
  • Forex-Euro slips to fresh 14-month lows vs. dollar.

EUR/USD
EUR/USD hit 1.2763 during late Asian trade, the pair’s lowest since July 2013; the pair subsequently consolidated at 1.2757, slipping 0.18%.The pair was likely to find support at 1.2754 and resistance at 1.2864, Wednesday’s high. The euro came under pressure after European Central Bank President Mario Draghi said on Wednesday that the bank will keep its monetary policy “accommodative” for as long as needed, and will use every tool at its disposal to fight deflation.Demand for the dollar found further support after a report showed that U.S. new home sales data rose 18.0% last month to 504,000 units, the highest level since May 2008.The pound had strengthened earlier in the week as investor focus returned to the outlook for U.K. monetary policy in the wake of last week’s Scottish independence referendum.

GBP/USD
GBP/USD hit 1.6276 during European morning trade, the pair’s lowest since September 18; the pair subsequently consolidated at 1.6293, shedding 0.28%.Cable was likely to find support at 1.6244, the low of September 18 and resistance at 1.6416, Wednesday’s high.The dollar found further support after a report on Wednesday showed that U.S. new home sales data rose 18.0% last month to 504,000 units, the highest level since May 2008.Earlier in the week, a report showed that the U.S. manufacturing sector expanded in September, matching the rate of growth seen in the previous month, which was the strongest in over four years.The strong data added to expectations that the Fed will hike interest rates sooner than markets are expecting.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2752-TG:1.2772/1.2802 SL 1.2722
2. Sell EUR/USD Below 1.2673-TG:1.2653/1.2623 SL 1.2703

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

26Sep

Comex Commodity Trading Signals and Market News – 26 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold prices rose in Asia on Friday in continued gains from overnight on political and economic uncertainty. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,222.80 a troy ounce, up 0.12% after hitting an overnight session low of $1,207.40 and off a high of $1,225.10.Overnight, gold futures rose as investors sought safety in the precious metal amid a global stock market meltdown, though prices moved in a whipsaw fashion thanks to hawkish comments out of the Federal Reserve that strengthened the dollar. Stock markets plunged on Thursday on news Russia may consider a proposal allowing Moscow to seize foreign assets, which spooked investors across the globe. A draft law, a response to Western sanctions slapped on the country for its alleged meddling in the Ukraine conflict, was sent to the Russian parliament Wednesday.

Crude oil prices rose in early Asia trade on Friday as political and economic uncertainty kept the commodity well bid. On the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded at $92.59 a barrel, up 0.06%, after hitting an overnight session low of $92.11 a barrel and a high of $93.54 a barrel. Brent oil rose 0.1% to $97 a barrel on ICE Futures Europe Thursday. Overnight, crude prices traded near session lows despite relatively solid U.S. data, as concerns the global economy is awash in oil watered down demand for the commodity. News Russia may consider a proposal allowing Moscow to seize foreign assets spooked investors across the globe.

Natural gas prices carried Wednesday’s gains into Thursday after updated weather-forecasting models continued to call for cooler temperatures to trek across the U.S. in October On the New York Mercantile Exchange, natural gas futures for delivery in November were up 0.32% at $3.978 per million British thermal units during U.S. trading. The commodity hit a session low of $3.886, and a high of $3.995.The November contract settled up 2.48% on Wednesday to end at $3.965 per million British thermal units. Natural gas futures were likely to find support at $3.845 per million British thermal units, Tuesday’s low, and resistance at $4.100, the high from Sept. 17.

Crude prices edged higher on Wednesday on the coattails of upbeat U.S. inventory data, though concerns the world is awash in oil at a time when global demand remains soft sent futures dipping into negative territory at times. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 0.22% at $91.76 a barrel during U.S. trading. New York-traded oil futures hit a session low of $91.13 a barrel and a high of $92.11 a barrel.

RECOMMENDATION :

  • BUY GOLD ABOVE 1227 TGT 1231,1236 SL 1222
  • SELL GOLD BELOW 1220 TGT 1216,1211 SL 1225

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

26Sep
sgx 26 sep 14

Financial Sgx Singapore Stock Market Trading Picks And News – 26 September 2014

MARKET UPDATES :

  • Singapore shares fell on Thursday with the benchmark Straits Times Index down 1.82 points to close at 3,290.99. Volume was 1.26 billion shares worth S$701.3 million. Losers outnumbered gainers 212 to 195.
  • SINGAPORE’S total population stood at 5.47 million in June 2014, up 1.3 per cent from June 2013, making it the slowest growth rate in the last decade.According to the 2014 Population in Brief publication issued by the National Population and Talent Division (NPTD) on Thursday, there are 3.34 million Singapore citizens as at end June 2014. This is up from the 3.31 million in the previous year. The permanent resident population slipped marginally to 527,700 from 531,200 previously. Resident population was at 3.87 million, up from 3.84 million. Non-residents comprising individuals holding work passes, dependants and international students made up 1.60 million, up from 1.55 million.
  • THE Central Provident Fund (CPF) Board said on Thursday it will be lowering the cost of investing under the CPF Investment Scheme (CPFIS) by reducing the limits on the total expense ratio (TER) for unit trusts and investment- linked insurance products by 0.2 per cent to 0.3 per cent. TER refers to the ongoing costs of operating a fund, expressed as a percentage of the fund’s average net asset value. The costs include investment management fees, trustee fees, as well as audit fees. The TER caps for lower risk funds such as money market products under the CPFIS, for example, will drop from 0.65 per cent to 0.35 per cent. Higher risk funds such as equities will go down from the current 1.95 per cent to 1.75 per cent.
  • THE 44 properties sold through auctions last year and this year, 80 per cent were successfully hammered upon their first appearance, JLL said on Thursday. These include the two largest auction transactions so far this year. One transaction comprised four strata office units in Orchard Shopping Centre, which fetched S$8.55 million in March; the other was a freehold residential development site in Brighton Crescent which sold for S$9.1 million on Wednesday at an auction conducted by Colliers International. JLL said nine properties have been sold at auctions so far this quarter for a total S$30.46 million. This compares with nine properties transacted for a total S$9.28 million in Q2 this year.
  • ZURICH Life Singapore has appointed Jamie McNish to the newly created position of chief sales officer effective Dec 15, 2014. Mr McNish will oversee all distribution related activities for the expatriate and local Financial Advisor channels as well as banks. He will report directly to Peter Huber, CEO of the company’s Life business in SingaporeSaid Mr Huber: “This further strengthening of Zurich’s distribution team is a clear demonstration of the progress we have made in deepening our leadership position in the market using our multi-distribution strategy. I am delighted to welcome Jamie to our growing team, and I am confident that his extensive experience in the insurance and wealth management space will greatly enhance our network and presence in Singapore
  • SINO Construction Limited intends to make an off-market takeover bid for Australian-listed Guildford Coal (GUF). The takeover bid will be made at a bid price of A$0.0613 (approximately S$0.069) per GUF share. The consideration will be satisfied via an allotment and issue of one new ordinary share in Sino Construction for every 4.5 GUF Shares. Based on the issued and paid-up share capital of GUF, up to 229,639,650 new shares may be issued as the consideration for the takeover bidThis takeover bid follows the group entering non-binding terms with GUF to acquire all of the latter’s portfolio of coal assets in Australia for a total consideration of US$25 million and a payment of ongoing royalty. The management of Sino Construction is now of the view that it is more advantageous to acquire all of GUF’s assets, including its coal producing assets in Mongolia, said Sino Construction on Thursday .
  • The family behind home-grown developer and construction firm Lee Kim Tah Holdings is taking the company private in a S$1.08 per share takeover offerThrough the investment vehicle Lee Kim Tah Investments founded by the late chairman Lee Kim Tah, the Lee family already owns 71.34 per cent of the group.

STOCK RECOMMENDATION :

  • BUY HONGKONG LAND ABOVE 7.000 TG 7.070, 7.160, 7.260 SL 6.900

Fore more information about SGX stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

25Sep

Comex Commodity Trading Signals and Market News – 25 September 2014

INTERNATIONAL COMMODITY NEWS :

Gold futures fell on Wednesday after the greenback advanced on news that far more new homes were sold in the U.S. last month than expected. Gold and the greenback tend to trade inversely with one another. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at 1,217.60 a troy ounce during U.S. trading, down 0.36%, up from a session low of $1,216.30 and off a high of $1,226.70.The December contract settled up 0.34% at $1,222.20 on Tuesday. The Census Bureau reported earlier that U.S. new home sales data rose 18.0% last month to 504,000 units, far surpassing expectations for a 4.4% gain to 430,000 units.

Natural gas prices rose on Wednesday after updated weather-forecasting models called for warm weather in the near term and potentially chilly temperatures in October. On the New York Mercantile Exchange, natural gas futures for delivery in November were up 1.63% at $3.932 per million British thermal units during U.S. trading. The commodity hit a session low of $3.846, and a high of $3.936.The November contract settled down 1.00% on Tuesday to end at $3.869 per million British thermal units. Natural gas futures were likely to find support at $3.846 per million British thermal units, the session low, and resistance at $3.959, Tuesday’s high.

Crude prices edged higher on Wednesday on the coattails of upbeat U.S. inventory data, though concerns the world is awash in oil at a time when global demand remains soft sent futures dipping into negative territory at times. In the New York Mercantile Exchange, West Texas Intermediate crude oil for delivery in November traded up 0.22% at $91.76 a barrel during U.S. trading. New York-traded oil futures hit a session low of $91.13 a barrel and a high of $92.11 a barrel. The November contract settled up 0.76% at $91.56 a barrel on Tuesday.

Crude oil futures edged higher on Wednesday, but gains were expected to remain limited as ample supplies and weak economic data from the euro zone overshadowed geopolitical tensions in the Middle East. On the New York Mercantile Exchange, crude oil for delivery in November traded at $91.66 a barrel during European morning trade, up 0.10%.Prices gained 0.76% on Tuesday to settle at $91.56. Iraq and Nigeria are reportedly stepping up exports, adding more oil to the market, while output at Libya has rebounded as well.

RECOMMENDATION :

  • BUY GOLD ABOVE 1217 TGT 1221,1225 SL 1212
  • SELL GOLD BELOW 1210 TGT 1214,1218 SL 1205

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

25Sep
forex-trading3

IForex Market Trading Signals and News of 25 September 2014

TRADING TIPS :

  • Forex-Dollar slips lower vs. yen, euro steady near lows .
  • Forex- Euro steady near 2-year lows against sterling .
  • Forex-Euro steady vs. dollar after weak Ifo, Draghi comments .

EUR/USD
EUR/USD was trading at 1.2850, hovering just above Monday’s 14-month trough of 1.2815.The pair was likely to find support at 1.2815 and resistance at around the 1.29 levelThe euro was little changed after a report showed t That Germany’s Ifo business confidence index deteriorated for the fifth successive month in September.The Ifo economic institute’s business climate index fell to 104.7 from 106.3 in August.The euro was steady against the dollar on Wednesday, holding above 14 month lows after data showed that business confidence in Germany continued to deteriorate this month and after the European Central Bank reiterated its commitment to accommodative monetary policy.Monetary policy will remain accommodating for a long time and I can tell you t that the Governing Council is unanimous in committing itself to using the tools at its disposal to bring inflation back to just under 2%

GBP/USD
GBP/USDhit 1.6414 during European afternoon trade, the session high; the pair subsequently consolidated at 1.6394, inching up 0.03%. Cable was likely to find support at 1.6287, the low of September 22 and resistance at 1.6526, the high of September 19.The pound was almost unchanged against the U.S. dollar in quiet trade on Wednesday, as demand for sterling remained supported by the outcome of last week’s vote on Scottish independence, while Tuesday’s U.S. manufacturing data continued to boost the greenback. European Central Bank President Mario Draghi said the bank will keep its monetary policy “accommodative for as long as needed, and will use every tool at its disposal to fight deflation.The Ifo economic institute’s business climate index fell to 104.7 from 106.3 in August. It was the lowest level since April 2013 and much weaker than economists’ forecasts for 105.7.

RECOMMENDATION :

1. Buy EUR/USD Above 1.2846-TG:1.2866/1.2896 SL 1.2816
2. Sell EUR/USD Below 1.2824-TG:1.2804/1.2774 SL 1.2854

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

24Sep
sgx 25 sep 14

Financial Sgx Singapore Stock Market Trading Picks And News – 25 September 2014

MARKET UPDATES :

  • Singapore shares dipped on Wednesday with the benchmark Straits Times Index down 5.28 points to close at 3,292.81. Volume was 1.28 billion shares worth S$860 million. Losers outnumbered gainers 223 to 175.
  • The Asia-Pacific Trade and Investment Report (APTIR) 2014 published by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the developments in 2013 and so far in 2014, continue to show that the prolonged consequence of the global 2008 financial crisis is still posing risks to the trade prospects of Asia and the Pacific.
  • THE ANZ-Roy Morgan Singapore Consumer Confidence Index rose slightly in September from a month ago to 120.7 points, said ANZ Research on Wednesday. The slight increase in confidence over the month – up just 1.7 points – was driven by an improvement in the assessment of current and future financial situations, according to the index, which was launched early this month. This contrasts with a sharp 16.9-point dive.
  • CUSHMAN & Wakefield said on Wednesday that Singapore Grade A office rents are expected to rise to the highest since 2008 by the end of this year. This comes as average Grade A overall rents has already risen to their highest in three years to S$10.20 per square foot per month or 2 per cent higher than a quarter ago, and 9.9 per cent stronger than a year ago. Some new leases recorded during the quarter include advertising and marketing firm Publicis taking up 33,000 square feet (sq ft) of space at [email protected] At 6 Battery Road, insurance broker Willis has signed a lease for about 22,000 sq ft of space, while management consultancy firm Bain & Company took up an 18,000 sq ft unit in South Beach.
  • JUMBO Group plans to sell shares to raise about S$30 million in an IPO, said Bloomberg on Wednesday, citing sources. Jumbo intends to use some of the proceeds to expand in China, Bloomberg said. It cited a company spokeswoman saying that Jumbo does not discount such plans, but would not comment on “market speculations”.
  • British holidays and airline company Monarch is set to be acquired by Greybull Capital after the London- based family investment firm was named as its preferred bidderThe new owner would invest around £75 million (S$155.8 million) in the airline, a person familiar with the matter said, to help fund its plan to turn into a budget airline to better compete against Europe’s biggest low-cost carriers Ryanair and easyJet .
  • NEC Corporation said on Wednesday that it is partnering Singapore’s Economic Development Board (EDB) to grow the pool of specialists to counter cyber threats The multi-year agreement through EDB’s Strategic Attachment and Training (Strat) Programme aims to equip qualified cybersecurity professionals and graduates with skills in areas of malware analysis, incident response, intrusion detection, digital forensics and vulnerability assessment According to a Mckinsey and World Economic Forum report, delays in adopting cybersecurity capabilities could result in a loss of US$3 trillion in economic value by 2020 globally.
  • SINGAPORE mutual fund investors want a stream of income from their investments and have a stronger home bias than regional investors. These were the main takeaways from an online survey of 300 investors here, commissioned by Prudential’s Asia asset management arm Eastspring Investments. The desire forincome is more pronounced among those who are married with children and those who are planning to buy a mutual fund in the next six months. Asked how they would change their strategy if there is an interest rate hike, nearly a quarter said they would invest more in an income-generating fund. Eastspring’s survey was conducted in July. Out of the 300 Singapore investors surveyed, two-thirds were mutual fund investors and one-third comprised prospective investors.
  • Singapore offshore oilfield services company Ezra Holdings has agreed to defer for up to three years the majority of cash owed for assets bought by affiliate Emas Offshore Ltd. Ezra in July said it planned to sell its offshore support services division to Emas Offshore for US$520 million, made up of US$370 million worth

STOCK RECOMMENDATION :

  • BUY CITY DEVELOPMENT LTD ABOVE 9.700 TG 9.780, 9.880, 10.000 SL 9.600

Fore more information about SGX stock market please feel free to visit EPIC RESEARCH PRIVATE LIMITED.

24Sep

Comex Commodity Trading Signals and Market News – 24 September 2014

INTERNATIONAL COMMODITY NEWS :

Natural gas prices fell on Tuesday after updated weather-forecasting models scaled back on calls for colder temperatures dipping across the U.S., with milder temperatures seen reducing the need for air conditioning or heating. On the New York Mercantile Exchange, natural gas futures for delivery in November were down 0.87% at $3.874 per million British thermal units during U.S. trading. The commodity hit a session low of $3.866, and a high of $3.959.The November contract settled up 0.13% on Monday to end at $3.908 per million British thermal units.Natural gas futures were likely to find support at $3.864 per million British thermal units, Monday’s low, and resistance at $3.958, the session high.

Crude oil prices gained slightly in Asia on Wednesday after bullish industry data on U.S. stocks.The American Petroleum Institute showed a 6.5-million-barrel drop in crude stocks in the past week. The API also said gasoline supplies rose by 91,000 barrels, while distillate inventories rose by 3 million barrels.On the New York Mercantile Exchange, West Texas Intermediate Crude Oil for delivery in November traded at $91.64 a barrel, up 0.09%, after hitting an overnight session low of $90.66 a barrel and a high of $91.89 a barrel.Brent oil fell 12 cents, or 0.1%, to $96.85 a barrel on ICE Futures Europe on Monday. Overnight, crude prices jumped after data revealed Chinese factories have been busier this month than markets were expecting.China’s HSBC manufacturing index for September came in at 50.5, ahead of expectations for 50.0 and up from the final reading of 50.2 in August.

Gold prices fell in Asia on Wednesday on profit taking after solid overnight gains on a mix of a weaker dollar and geopolitical tension. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1,222.90 a troy ounce, down 0.16%, after hitting an overnight session low of $1,214.70 and off a high of $1,235.60. Overnight, gold futures rose as investors sold the dollar for profits, while U.S.-led air strikes in Syria fueled safe-haven demand for the precious metal.Profit taking sent the dollar edging lower on Monday, wiping out a rally stemming from expectations for U.S. monetary policy to grow less accommodative at a time when European and Japanese monetary authorities take steps to loosen.Markit Economics reported earlier that its preliminary U.S.manufacturing purchasing managers’ index came in at 57.9 in September, unchanged from August and the highest since April 2010 though shy of market calls for a 58.0 reading, which allowed the dollar to take a break from its rally.

RECOMMENDATION :

  • BUY GOLD ABOVE 1225 TGT 1229,1233 SL 1220
  • SELL GOLD BELOW 1219 TGT 1215,1210 SL 1224

Fore more information about Comex Commodity Market Trading or Signals, Please visit- EPIC RESEARCH PRIVATE LIMITED.

24Sep
forex-market-hours

IForex Market Trading Signals and News of 24 September 2014

TRADING TIPS :

  • Forex-Dollar off 4-year highs as rally stalls.
  • Forex- Dollar dips against yen, euro steady after China data.
  • Forex-Yen, Aussie flat to stronger ahead of China HSBC flash PMI

EUR/USD
EUR/USD was up 0.18% to 1.2871, off session lows of 1.2816. The pair was likely to find support at 1.2815, Monday’s low and a 14 month trough and resistance at around 1.29. The euro rose to session highs against the dollar on Tuesday after data showed that output in the euro zone private sector grew at the slowest rate so far this year in September, adding to fears over the outlook for the recovery in the region..The bloc’s services PMI slid to a three month low of 52.8 from 53.1 last month, while the manufacturing index ticked down to a 14 month low of 50.5 from 50.7 in August.The data indicated that the euro area economy is on track to grow by 0.3% in the third quarter, and also signaled that growth could slow further in the fourth quarter

GBP/USD
GBP/USD edged up 0.08% to 1.6372, coming off the lows of 1.6303 hit earlier in the session.Cable was likely to find support at 1.6286, Monday’s low and resistance at around 1.6410.The pound erased losses against the dollar on Tuesday as the greenback took a breather following its recent run higher, while elsewhere sterling was lower against the euro.The dollar has rallied in recent months, boosted by expectations that the strengthening recovery in the U.S. would prompt the Federal Reserve to raise interest rates sooner than markets expectThe Office for National Statistics reported that public sector net borrowing, excluding public sector banks, was £11.6 billion in August 2014, an increase of £700 million compared with August 2013The preliminary reading of China’s HSBC manufacturing index for September came in at 50.5, ahead of expectations for 50.0 and up from the final reading of 50.2 in August..

RECOMMENDATION :

1. Buy EUR/USD Above 1.2908-TG:1.2928/1.2958 SL 1.2878
2. Sell EUR/USD Below 1.2886-TG:1.2866/1.2836 SL 1.2916

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

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