TRADING TIPS
➔ Forex – EUR/USD edges higher but upside seen limited
➔ Forex – USD/JPY slides on Ukraine unease, U.S. data support
➔ Forex – GBP/USD holds steady after upbeat U.K. retail sales data
GBP-USD
GBP/USD hit 1.6831 during European morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.6807, inching up 0.03%.Cable was likely to find support at 1.6718, the low of April 11 and resistance at 1.6842, the high of April 17 and a four-and-a-half year high.Official data showed that U.K. retail sales rose 0.1% in March, beaing expectations for a 0.4% fall. Retail sales in February were revised down to a 1.3% increase from a previously estimated 1.7% gain.A separate report showed that U.K. mortgage approvals rose by 45,900 last month, compared to expectations for an increase of 48,900. February’s mortgage approvals were revised down to a 47,200 rise from a previously estimated 47,600 increase.
EUR/USD
EUR/USD hit 1.3848 during U.S. morning trade, the pair’s highest since Wednesday; the pair subsequently consolidated at 1.3841, adding 0.08%.The pair was likely to find support at 1.3792, Thursday’s low and resistance at 1.3884, the high of April 13.In a revised report, the University of Michigan said its consumer sentiment index rose to a nine-month high of 84.1 in April, from a reading of 82.6 in March. Analysts had expected the index to rise to 83.0 this month.The University of Michigan also said inflation expectations for the next 12 months ticked up to 3.2% in April, from the previous month’s estimate of 3.1%.Meanwhile, market sentiment remained fragile amid renewed tensions in Eastern Europe, after Ukrainian troops killed several pro-Russian rebels on Thursday,and Russian troops started military exercises close to its border with Ukraine.
INTRADAY OUTLOOK
Support: 1.0995
Resistance: 1.1050
RECOMMENDATION :-
1. Buy USD/CAD Above 1.1050- TG: 1.1090/ 1.1150 SL 1.1000
2. Sell USD/CAD Below 1.0995- TG: 1.0955/ 1.0895 SL 1.1050
INTRADAY OUTLOOK
Immediate Support: 1.6750
Immediate Resistance: 1.6820
RECOMMENDATION:-
1. Buy GBP/USD Above 1.6820- TG: 1.6860/ 1.6920 SL 1.6760
2. Sell GBP/USD Below 1.6750- TG: 1.6710/ 1.6650 SL 1.6810
Epic Research is a leading global financial services provider. Headquartered in Indore, India, Epic has offices and representatives in U.S.A., Singapore, Australia and Middle East. With its full fledged research operations, Epic Research has proven itself as Investment Advisory Company that produces and delivers high accuracy tips and recommendations for the Singapore market –
SGX Equities
SGX Derivatives – Futures and Options
Global Commodities – Bullion, Energy and Agri
Global Forex – Major currency pairs
Our research is based around these services:
IForex Signals
Forex Trading
GET FREE TRIAL For 2 Days Contact Us on +6531581402
Or mail us here: sales@epicresearch.sg Or visit our site that is http://www.epicresearch.sg
or
http://www.epicresearch.sg/forex-trading-signals
ListFree.org: Embedded data.