Epic Research offers perfect Forex Signals for their clients that gives accurate results. Our research team with its past experience prepares live charts and track-sheets of IForex Signals through which traders can earn maximum profit from the market place. This report helps you to achieve desired success in the SGX Stock Exchange.
2. FOREX- Aussie holds weaker as China PMI final for July falls
www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date– 5–AUG
INTERNATIONAL CURRENCY BUZZ
GBP/USD
AUD/USD
The Australian dollar rallied over 1% to two-week highs against its U.S. counterpart on Tuesday,
supported by the release of strong retail sales and trade data from Australia and after the Re-
serve Bank of Australia left interest rates unchanged. AUD/USD hit 0.7382 during late Asian
trade, the pair's highest since July 23; the pair subsequently consolidated at 0.7377, jumping
1.27%.the RBA decided to hold its benchmark interest rate at 2.00%, in line with expectations.
Commenting on the decision, the central bank said that monetary policy needs to be accom-
modative and that low interest rates are currently acting to support borrowing and spending.
FOREX- Commodity currencies rise, Aussie up after RBA shifts tone
FOREX- Dollar edges lower vs. rivals as markets eye U.S. jobs data
FOREX- Kiwi climbs higher vs. softer greenback
GBPUSD has made quite a few attempts to break the resistance at 1.565 and looks to have
formed a double top. If this pattern is validated, GBPUSD could see a quick decline down to
1.55165 which marks the measured move of the double top pattern and also forms the ma-
jor support level that we have noted. On the daily charts, price has been moving sideways
but there is a potential ascending triangle pattern being formed with resistance at 1.567. If
the lower time frame double top pattern is validated, GBPUSD could see a decline to
1.5516 which could then give way for a test to 1.5324.
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