Daily i forex report 25 jul 2018 by epic research

1. 25-July-2018
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International Forex

2. International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar Holds Steady, Yen Remains Supported
Forex - GBP/USD spikes to 1-week tops after UK PM May’s comments
Forex - EURUSD bounce after failing on the dip
GBP/USD
The GBP/USD pair added on to its daily gains and spiked to a one-week high level of 1.3160 during the early North-
American session. After an initial dip to an intraday low level of 1.3072, the pair caught some fresh bids and was
being supported by some fresh selling witnessed around the US Dollar. Adding to this, August BoE rate hike
prospects continued underpinning the British Pound and assisted the pair to move back above the 1.3100 handle.
Meanwhile, the latest leg of a sharp spike over the past hour or so followed the UK PM Theresa May's comments,
saying that she will take control of Brexit negotiations. The headlines helped offset earlier comments by the UK
Brexit Secretary Dominic Raab, who was noted saying that the UK must prepare for all Brexit eventualities and
provided a minor lift to the British Pound.
EUR/USD
The euro slipped a quarter of a percent on Tuesday as investors warily eyed business activity data that will shed light
on whether growing rhetoric over a trade war between the U.S. and its trading partners in recent weeks has
dampened sentiment. European data has stabilized after losing momentum earlier this year, but sentiment
remained cautious with French PMI data easing slightly. Eurozone PMI data is due shortly and is also expected to
slip. "Should the PMIs reflect a stronger than expected collapse today the trade conflict might increasingly become
an issue for the euro as well," Commerzbank (DE:CBKG) strategists said. In early London trading, the single currency
was down 0.3 percent at $1.1654. It hit a near two-week high in the previous session at $1.1750. The Japanese yen
trimmed most of its gains against its rivals on Monday as traders dampened expectations about whether the Bank
of Japan will launch a fresh round of stimulus at a scheduled policy meeting next week.

3. International Forex
DAILY ECONOMIC DATA

4. International Forex
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.3036
Resistance: 1.3192
RECOMMENDATION:
BUY GBPUSD ABOVE 1.3160 TGT 1.3180 1.3210 SL 1.3130
SELL GBPUSD BELOW 1.3080 TGT 1.3060 1.3030 SL 1.3110

5. International Forex
EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1639
Resistance: 1.1779
RECOMMENDATION:
BUY EURUSD ABOVE 1.1720 TGT 1.1740 1.1770 SL 1.1790
SELL EURUSD BELOW 1.1680 TGT 1.1660 1.1630 SL 1.1710

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