This document provides a daily report on international forex markets with the following key points: - The US dollar is extending losses and hitting one-month lows while the Turkish lira is lower. - The British pound is struggling to build momentum past 1.2900 against the US dollar due to Brexit uncertainties. - The euro is focused on resistance at 1.1745 against the US dollar and there is scope for it to rise further. - Charts and analysis are provided for the GBP/USD and EUR/USD currency pairs with trading recommendations.

1. 29-Aug-2018
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International Forex

2. International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar Extends Losses, Hits 1-Month Lows, Turkish Lira Lower
Forex - GBP/USD struggles to build on momentum beyond 1.2900 handle
Forex - EUR/USD now focused on 1.1745 – UOB
GBP/USD
The prevalent USD selling bias helps recover early lost ground. Brexit uncertainties continue to undermine GBP and
cap gains. The GBP/USD pair managed to recover around 50-pips from daily lows, albeit seemed struggling to build
on its momentum further beyond the 1.2900 handle. After an initial downtick to an intraday low level of 1.2662, the
pair regained some traction and was being supported by the prevalent US Dollar selling bias. Despite a modest
uptick in the US Treasury bond yields, the prevalent risk-on mood, triggered by easing concerns over global trade
tensions, held the USD bulls on the defensive and was seen as one of the key factors behind the pair's intraday
rebound. However, continuing fears over a no-deal Brexit continue to undermine the British Pound and kept a lid on
any meaningful up-move for the major, at least for the time being.
EUR/USD
“We highlighted yesterday “there is scope for EUR to extend higher to 1.1670 but overbought conditions suggest
that a move beyond 1.1700 is not expected”. EUR subsequently rose to a high of 1.1693 before settling on a strong
note (NY close of 1.1676). While the rally has moved deeper into overbought territory, there is still scope for
another push higher to 1.1715 before a pull-back can be expected. For today, a break of the major 1.1745/50
resistance would come as a surprise. Support is at 1.1650 but the stronger level is closer to 1.1620. The 1.1591 low
seen early yesterday is not expected to be threatened”. Next 1-3 weeks: “While we have been expecting a ‘robust
recovery’ in EUR since last Tuesday, the pace and extent of the rally over the past 2 days exceeded our anticipation
(note that EUR rose by +1.21% over Friday and Monday, the largest 2- day gain in 3 months).

3. International Forex
DAILY ECONOMIC DATA

4. International Forex
EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.2801
Resistance: 1.2949
RECOMMENDATION:
BUY GBPUSD ABOVE 1.2940 TGT 1.2920 1.2950 SL 1.2860
SELL GBPUSD BELOW 1.2830 TGT 1.2810 1.2780 SL 1.2860

5. International Forex
EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK
Support: 1.1553
Resistance: 1.1757
RECOMMENDATION:
BUY EURUSD ABOVE 1.1760 TGT 1.1780 1.1810 SL 1.1730
SELL EURUSD BELOW 1.1690 TGT 1.1670 1.1640 SL 1.1720

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International Forex