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2. www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date –26– Aug
INTERNATIONAL CURRENCY BUZZ
EUR/USD
GBP/USD
GBP/USD is currently trading with a bearish bias. Yesterday, the pair traded short as previ-
ously forecasted but is yet to reach our target support level 1.3134. During this intraday,
we expect a possible bearish price movements towards our previously set target o even
lower. The current upward rally is a mere retracement and should not go beyond 1.3230, a
clear breakout above this level may invalidate the anticipated downward rally. This pair
should be traded alongside GBPCAD, GBP/NZD and GBP/JPY. These pairs have a strong
positive correlation of up to +0.92 and will have a similar price action during this intraday.
The euro was moderately higher against the U.S. dollar on Thursday, despite the release of
downbeat data from Germany, as sentiment on the greenback remained fragile ahead of a
speech by Federal Reserve Chair Janet Yellen due on Friday.EUR/USD hit 1.1280 during
European morning trade, the session high; the pair subsequently consolidated at 1.1272,
up 0.08%.The pair was likely to find support at 1.1239, the low of August 17 and resistance
at 1.1316, Wednesday’s high.Data earlier showed that the German Ifo Business Climate In-
dex fell to 106.2 this month from a reading of 108.3 in July, missing forecasts for a rise to
108.5.
Forex - EUR/USD moderately higher despite weak Ifo data
Forex - Aussie, kiwi move higher ahead of Yellen speech
Forex - Yen trends weaker after corporate services, PBOC jawbones banks
3. Iforex Market Insight
Date – 26– Aug
www.epicresearch.sgIforex Market Insight Report By Epic Research Singapore
ECONOMIC CALENDAR
Time Cur. Event Forecast Previous
Friday, August 26, 2016
00:30 BRL CAGED Net Payroll Jobs (Jul) -88.00K -91.00K
05:00 JPY National Core CPI (YoY) (Jul) -0.4% -0.5%
05:00 JPY Tokyo Core CPI (YoY) (Aug) -0.3% -0.4%
11:00 EUR French GDP (QoQ) (Q2) 0.0% 0.0%
11:30 EUR GfK German Consumer Climate (Sep) 9.9 10.0
14:00 GBP Business Investment (QoQ) (Q2) -0.9% -0.6%
14:00 GBP GDP (QoQ) (Q2) 0.6% 0.6%
14:00 GBP GDP (YoY) (Q2) 2.2% 2.2%
17:30 USD Jackson Hole Symposium
18:00 USD GDP (QoQ) (Q2) 1.1% 1.2%
18:00 USD GDP Price Index (QoQ) (Q2) 2.2% 2.2%
18:00 USD Goods Trade Balance (Jul) -62.30B -63.30B
19:30 USD Fed Chair Yellen Speaks
19:30 USD Michigan Consumer Expectations (Aug) 81.0 80.3
19:30 USD Michigan Consumer Sentiment (Aug) 90.6 90.4
22:30 USD Baker Hughes U.S. Rig Count
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