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18-May-2018 International Forex

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International Forex INTERNATIONAL CURRENCY BUZZ Forex - Dollar Hovering Near 5-Month Highs as Treasury Yields Support Forex - EUR/USD looks to regain 1.1800 post-US data Forex - GBP/USD holds steady near 1.35 handle, moves little post-US data GBP/USD The GBP/USD pair had a rather muted reaction to the mixed US economic data and held on to its mildly positive tone, around the key 1.3500 psychological mark. Following a good two-way move during the early European session, led by the incoming Brexit headlines, renewed US Dollar buying interest prompted some fresh selling and dragged the pair to an intraday low level of 1.3474. The downfall was quickly bought into and the pair managed to bounce back above the 1.3500 handle. The rebound, however, lacked any strong follow-through and was being capped by upbeat US Philly Fed Manufacturing Index, which jumped to 34.4 in May as against a dip to 21.0 expected. The USD positive reading was partly negated by a larger-than-expected rise in the initial weekly jobless claimsdata, though did little to influence the price-action. EUR/USD After bottoming out in the 1.1780/70 band in early trade,EUR/USD has managed to regain some attraction and is now flirting with the 1.1800 neighbourhood. The pair remains entrenched into the negative territory so far this week and is now gyrating around the 1.1800 handle following the US data releases. The greenback eases from daily highs despite the key Philly Fed manufacturing index surprised to the upside for the month of May, coming in at 34.4 vs. 21.0 expected and up from April’s 23.2. In addition, weekly Initial Claims rose to 222K, missing forecasts. All in all, USD-dynamics continue to dictate the sentimentaround the pair almost exclusively, leaving Italian politics to a secondary role. Furthermore, spot keeps struggling to sustain any bullish attempts near/above the 1.1900 handle and seems to have shifted its focus back to December 2017 lows in the 1.1720 region. At the moment, the pair is losing 0.02% at 1.1807 and a breach of 1.1764 (2018 low May 16) would target 1.1718 (monthly low Dec.12 2017) en route to 1.1553 (monthly low Nov. 7 2017).

International Forex DAILY ECONOMIC DATA

International Forex EPIC'S ANALYST SPEAKS

GBP/USD Daily Chart

INTRADAY OUTLOOK Support: 1.3422 Resistance: 1.3556 RECOMMENDATION: BUY GBPUSD ABOVE 1.3550 TGT 1.3570 1.3600 SL 1.3520 SELL GBPUSD BELOW 1.3440 TGT 1.3420 1.3390 SL 1.3470

International Forex EPIC'S ANALYST SPEAKS

EUR/USD Daily Chart

INTRADAY OUTLOOK Support: 1.1716 Resistance: 1.1900

RECOMMENDATION: BUY EURUSD ABOVE 1.1830 TGT 1.1850 1.1880 SL 1.1800 SELL EURUSD BELOW 1.1760 TGT 1.1740 1.1710 SL 1.1790

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Daily iforex report 18 may 2018 by epic research  

Enter the Most Liquid Market in the World which have four pairs for trading EUR/USD(Euro), USD/JPY(Japanese Yen), GBP/USD(Pound), USD/CHF(sw...

Daily iforex report 18 may 2018 by epic research  

Enter the Most Liquid Market in the World which have four pairs for trading EUR/USD(Euro), USD/JPY(Japanese Yen), GBP/USD(Pound), USD/CHF(sw...