Daily i forex report 03 jul 2018 by epic research

1. 03-July-2018
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International Forex

2. International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - USD Acts as Safe Haven, EUR Down on German Politics
Forex - Euro Lower as Trade Fears, German Uncertainty Weigh
Forex - GBP/USD refreshes session lows, below mid-1.3100s ahead of US ISM PMI
GBP/USD
The GBP/USD pair quickly reversed the UK PMI-led uptick to 1.3175-80 region and refreshed session lows in the last
hour. Currently trading around the 1.3140-35 region, the pair struggled to build on Friday's strong up-move, led by
an upward revision of the UK GDP growth figures for the first quarter of 2018 and traded with a negative bias for
the fourth session in the previous five. Today's better-than-expected UK manufacturing PMI, coming in at 54.4 for
June, did provide a minor lift during the early European session but the attempted recovery move was quickly sold
into amid uncertainties surrounding Brexit negotiations. This coupled with resurgent US Dollar demand, despite the
ongoing slide in the US Treasury bond yields, further collaborated towards keeping a lid on any meaningful up-move
for the major.
EUR/USD
The euro was lower on Monday as fears over the prospect of a global trade war and fresh political uncertainty in
Germany pressured the single currency, while the dollar pared back overnight gains against the safe haven yen.
EUR/USD was down 0.47% to 1.1628 by 03:56 AM ET (07:56 AM GMT). The euro came under pressure after
Germany's interior minister offered to resign amid an escalating row over immigration policy, throwing into
doubt the future of Chancellor Angela Merkel’s coalition government. The euro had risen on Friday after European
Union leaders reached a deal on migration, easing pressure on Merkel. The single currency was also pressured
lower after U.S. President Donald Trump ratcheted up trade tensions with the EU, claiming overnight that it treated
the U.S. very badly and was “possibly as bad as China, just smaller”. The comments raised the prospect that the U.S.
could impose further tariffs on EU imports, possibly on auto imports.

3. International Forex
DAILY ECONOMIC DATA

4. International Forex
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.3178
Resistance: 1.3224
RECOMMENDATION:
BUY GBPUSD ABOVE 1.3160 TGT 1.3180 1.3210 SL 1.3130
SELL GBPUSD BELOW 1.3090 TGT 1.3070 1.3040 SL 1.3120

5. International Forex
EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1649
Resistance: 1.1707
RECOMMENDATION:
BUY EURUSD ABOVE 1.1630 TGT 1.1650 1.1680 SL 1.1600
SELL EURUSD BELOW 1.1530 TGT 1.1510 1.1480 SL 1.1560

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