Weekly i forex report 16 jul 2018 by epic research

1. 16 Jul – 20 Jul 2018
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WEEKLY INTERNATIONAL FOREX

2. INTERNATIONAL CURRENCY BUZZ
Forex - British pound snaps back after initially falling on Friday
Forex - Dollar Retreats From 2-Week Highs as GBP/USD Rebounds
Forex - EUR/USD recovers from 1-week low and erases daily losses
GBP/USD
The dollar retreated from a two-week high against its rivals Friday, pressured by a rebound in the pound
from an 11-day low. The U.S. dollar index, which measures the greenback’s strength against a trade-
weighted basket of six major currencies, fell by 0.01% to 94.56, after hitting a two-week high of 95.00.
GBP/USD rebounded from an 11-day low of $1.3103 to $1.3213, after U.S. President Donald Trump walked
back his criticism of British Prime Minister Theresa May, and claimed a U.K.-U.S. trade deal was still possible.
That eased investor fears that Britain would struggle to secure a trade deal with the United States as Trump
had reportedly told the Sun newspaper on Thursday that May's Brexit plan may "kill" Britain's chances of
such a deal.
EUR/USD
The EUR/USD pair recovered ground after the beginning of the American session rising from 1.1612, 1-week low, to
1.1670, slightly below daily highs. The pair remained above 1.1650 after the release of the Federal Reserve
monetary policy report that Powell will present next week to Congress. According to the document, prospective
economic conditions call for further gradual removal of monetary policy accommodation. The report had no
significant impact on the US dollar as it added no new information. Despite recovering against the US dollar, the
euro turned lower versus the pound. The slide of EUR/GBP could have limited the upside in EUR/USD. On a weekly
basis, the pair is about to post the first slide after rising during the previous there weeks. Overall, it continues to
move within the 1.1800 - 1.1500 wide range.
WEEKLY INTERNATIONAL FOREX

3. WEEKLY ECONOMIC DATA
WEEKLY INTERNATIONAL FOREX

4. EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.3026
Resistance: 1.3422
RECOMMENDATION:
BUY GBPUSD ABOVE 1.3260 TGT 1.3330 1.3430 SL 1.3220
SELL GBPUSD BELOW 1.3160 TGT 1.3090 1.2990 SL 1.3230
WEEKLY INTERNATIONAL FOREX

5. EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1524
Resistance: 1.1880
RECOMMENDATION:
BUY EURUSD ABOVE 1.1700 TGT 1.1770 1.1870 SL 1.1650
SELL EURUSD BELOW 1.1640 TGT 1.1570 1.1470 SL 1.1690
WEEKLY INTERNATIONAL FOREX

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WEEKLY INTERNATIONAL FOREX