Daily i forex report 29 june 2018 BY EPIC RESEARCH

1. 29- June-2018
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2. International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar near 1-year highs on trade concerns, H1 flows
Forex - GBP/USD Sterling breaks below 38.2% Fibonacci level as US Dollar benefits from trade jitters
Forex - EUR/USD a break below 1.15 is not ruled out – UOB
GBP/USD
Sterling continues to struggle against a resurgent US dollar with GBPUSD heading towards a fresh multi-month low
and a potential break below 1.3000. The greenback got a boost Wednesday after US President Trump appeared to
ease back on some of his harsher trade restrictions with China. The US dollar immediately broke to the topside and
is now making a new multi-month high with further gains likely as the US continues to hike rates in the months
ahead. Sterling also faces a couple of potentially tricky days ahead with Brexit on the menu at the EU Summit which
starts today. No resolution is expected but a further round of negative talk from the EU will increase fears of a no-
deal Brexit which neither side really wants.
EUR/USD
Expectation for sideway trading yesterday was wrong as EUR slumped to an overnight low of 1.1539. The strong
decline appears incomplete but in view of the already oversold conditions, any weakness could be checked by last
week s low near 1.1505/10 (minor support is at 1.1530). Resistance is at 1.1590 but only a break above 1.1620
would indicate that the current weakness has stabilized. Higher up, yesterday s peak at 1.1672 is not expected to
come into the picture for now .Next 1-3 weeks: Our recent expectation for a stronger rebound in EUR was proven
wrong as the break of the 1.1605 key support yesterday resulted in a sharp drop to a low of 1.1539. From here,
market is clearly eyeing the 1.1505/10 support as this level was tested twice in recent weeks but held (low of
1.1506 in late May and 1.1507 last week).

3. International Forex
DAILY ECONOMIC DATA

4. International Forex
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.3053
Resistance: 1.3125
RECOMMENDATION:
BUY GBPUSD ABOVE 1.3115 TGT 1.3135 1.3165 SL 1.3085
SELL GBPUSD BELOW 1.3065 TGT 1.3045 1.3015 SL 1.3095

5. International Forex
EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1561
Resistance: 1.1609
RECOMMENDATION:
BUY EURUSD ABOVE 1.1600 TGT 1.1620 1.1650 SL 1.1570
SELL EURUSD BELOW 1.1525 TGT 1.1505 1.1475 SL 1.1555

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