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2. www.epicresearch.sgIforex Market Insight Report By Epic Research Singa-
Iforex Market Insight
Date – 18– Apr
INTERNATIONAL CURRENCY BUZZ
EUR/USD
GBP/USD
GBP/USD is currently trading with a bearish bias. During this intraday, a strong sup-
port is seen at 1.4062, while resistance levels are seen at 1.4193, 1.4289 and
1.44061. A clear breakout above 1.4193 will accelerate an upward rally towards
1.4289. However, as long as 1.4178-1.4193 protects the upper side, expect the price
to trade on the lower ranges towards 1.4062. The Cable should be traded alongside
GBP/CHF, AUD/USD and AUD/JPY. These pairs have a strong positive correlation of
up to +0.89 and will likely move in a similar direction during this intraday. Only buy
or sell GBP/USD if the other pairs are giving the same signal.
The euro rose against the U.S. dollar on Friday, after a the release of downbeat U.S.
economic reports sparked fresh concerns over the strength of the economy, damp-
ening demand for the greenback.EUR/USD hit 1.1296 during U.S. morning trade, the
pair’s highest since Wednesday; the pair subsequently consolidated at 1.1310, gain-
ing 0.41%.The pair was likely to find support at 1.1233, Thursday’s low and a two-and
-a-half week low and resistance at 1.1390, Wednesday’s high.In a preliminary report,
the University of Michigan said its consumer sentiment index fell to a seven-month
low of 89.7 in April from 91.0 the previous month. Analysts had expecte the index to
rise to 92.0 this month.
Forex - Aussie gains after China Q1 GDP matches expected 6.7% gain
Forex - Dollar holds steady vs. euro, yen ahead of U.S. economic reports
Forex- Aussie, kiwi gain after Chinese GDP numbers
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