EPIC RESEARCH DAILY I FOREX REPORT 27-JUNE-2018

1. 27-June-2018
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International Forex

2. International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar Rises to Day’s Highs as Demand Creeps Back In
Forex - EUR/USD finds support at 1.1650 ahead of US data
Forex - GBP/USD: Sterling falls to 1.3240 as BoE's newcomer Haskel speaks
GBP/USD
Sterling is trading down 0.25% at around 1.3240 against the US Dollar with the Bank of England’s new MPC member
Jonathan Haskel replacing hawkish Ian McCafferty speaks at the appointment hearing in the UK parliament. Newly
appointed Bank of England Monetary Policy Committee member Jonathan Haskel said "very retarded" investment
has been key to UK's slow productivity growth with interest rates becoming less effective in stimulating business
investment as firms rely more on intangible assets when judging "the speed limit" at which rates might need to be
raised. Haskel also said he is a bit more optimistic about economic benefits of technological progress than some
other MPC members and depending on Brexit negotiations, there may at least be a temporary lull in UK
economy. At the same time, the outgoing MPC member Ian McCafferty pointed out the need of explaining the
general public the positive effects of QE on the UK economy.
EUR/USD
EUR/USD remains on the defensive on Tuesday, fading Monday’s spike to the critical barrier in the 1.1720/30 band,
albeit meeting moderate support in the mid-1.1600s so far. Spot is shedding some ground for the first time since
last Thursday, losing momentum after being rejected from the critical resistance area around 1.1720, where
converge recent tops, December 2017 lows and a Fibo retracement of the April-May drop. On the USD-side, the
greenback reverted the initial selling bias and moved higher to the 94.60/65 band earlier in the session, although
losing some vigour soon afterwards. In the data space, nothing noteworthy in Euroland, whereas the S&P-
Case/Shiller index and the Conference Board’s Consumer Confidence gauge for the month of June are due later. At
the moment, the pair is losing 0.25% at 1.1675 and a break below 1.1651 (low Jun.26) would open the door to
1.1642 (10-day sma) and finally 1.1508 (2018 low May 29).

3. International Forex
DAILY ECONOMIC DATA

4. International Forex
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.3194
Resistance: 1.3334
RECOMMENDATION:
BUY GBPUSD ABOVE 1.3280 TGT 1.3300 1.3330 SL 1.3250
SELL GBPUSD BELOW 1.3220 TGT 1.3200 1.3170 SL 1.3250

5. International Forex
EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1594
Resistance: 1.1770
RECOMMENDATION:
BUY EURUSD ABOVE 1.1720 TGT 1.1740 1.1770 SL 1.1690
SELL EURUSD BELOW 1.1630 TGT 1.1610 1.1580 SL 1.1630

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