Daily i forex report 14 august 2018 by epic research

1. 14-Aug-2018
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International Forex

2. International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - Emerging Market Currencies Hit by Rout in Turkish Lira
Forex - Euro Back Above $1.14 as Turkish Lira Pares Some Losses
Forex - GBP/USD climbs to session tops, 1.2800 mark back on sight
GBP/USD
The GBP/USD pair extended its consolidative price action through the mid-European session and is currently placed
at the top end of its daily trading range, around the 1.2770-80 region. Rumoured news that Turkey is planning to
release the US pastor Brunson on August 15 prompted some US Dollar profit-taking and helped the pair to hold
comfortably above 13-month lows set on Friday. The report, however, was denied by the US Turkish Embassy
officialand thus, failed to attract any follow-through buying. Investors also seemed to refrain from placing any
bullish bets amid growing prospects for a no-deal Brexit, which could also be one of the key factors that might
continue to contribute towards keeping a lid on any near-term meaningful attempted recovery move.
EUR/USD
After weakening to 13-month lows the euro clawed back above the $1.14 level on Monday, as Turkey’s lira pulled
away from record lows against the dollar, but still held heavy losses for the day. EUR/USD edged up to 1.1423 by
09:33 AM ET (13:33 GMT) after falling as low as 1.1365 overnight, its weakest level since early July 2017. After
briefly rising back above the 7 lira to the dollar level, USD/TRY was last at 6.8921, still up 7.62% for the day. The pair
hit a record high of 7.1326 overnight. The lira pared back some of its losses after Turkey’s central bank pledged to
provide liquidity and cut lira and foreign currency reserve requirements for Turkish banks. Deteriorating
relations between the U.S. and Ankara have seen the lira tumble more than 40% this year, and lose a fifth of its
value against the dollar in the last week alone. The currency has also been pressured lower by worries about
President Tayyip Erdogan's increasing control over monetary policy and the economy and his opposition to higher
interest rates.

3. International Forex
DAILY ECONOMIC DATA

4. International Forex
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.2725
Resistance: 1.2797
RECOMMENDATION:
BUY GBPUSD ABOVE 1.2800 TGT 1.2820 1.2850 SL 1.2770
SELL GBPUSD BELOW 1.2750 TGT 1.2730 1.2700 SL 1.2780

5. International Forex
EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1462
Resistance: 1.1652
RECOMMENDATION:
BUY EURUSD ABOVE 1.1460 TGT 1.1480 1.1510 SL 1.1430
SELL EURUSD BELOW 1.1380 TGT 1.1360 1.1330 SL 1.1410

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