Enter the Most Liquid Market in the World which have four pairs for trading EUR/USD(Euro), USD/JPY(Japanese Yen), GBP/USD(Pound), USD/CHF(swiss franc).This report will compare the INR with all major pairs, free valuation according to 3 supports & 2 resistance. Forex trading can be a life changer for you.Start investing in Nifty call now.
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Daily i forex-report-17-may-2018-by-epic-research
1. 17-May-2018
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International Forex
2. International Forex
INTERNATIONAL CURRENCY BUZZ
Forex - Dollar Hits Almost 6-Month Highs, Euro Falls Below $1.18
Forex - Pound Edges Lower, US Posts Mixed Construction Data
Forex - EURJPY spikes into the 200 hour MA and stops
GBP/USD
The GBP/USD pair is trading at 1.3461 down 0.32% as the US Dollar is being well supported even with the US
Treasury yields easing off 2011 highs on Wednesday. In the early European session, the pair found an intraday
ceiling at 1.3520 and then fell about 50 pips. Cable is hovering near 2018 lows a the time of writing. The 10-year US
Treasury is consolidating its strong advance on Wednesday while the US Dollar Index (DXY) which measures the
greenback versus a basket of currencies is continuing the strong up move seen in the last two days. DXY is trading
above the 93.50 mark Meanwhile, the US Census Bureau and the US Department of Housing and Urban
Development just released the new residential construction statistics for April 2018. The US housing starts came
below expectations at 1.287M versus 1.31M expected while the US building permits came better-than-expected at
1.352M against 1.35M expected.
EUR/USD
The robust pace of the greenback is now forcing EUR/USD to trade in the 1.1770/60 band, fresh multi-month lows.
The pair is now intensifying the leg lower, shedding ground for the third session in a row and navigating the area of
fresh 2018 lows in the 1.1770/60 band, area last visited in mid-December 2017. On the other hand, the greenback
is extending its rally beyond the 93.60 level when tracked by the US Dollar Index, recording at the same time new 5-
month peaks and always underpinned by the better tone in US yields. In the data space, mixed US housing sector
results saw Building Permits contracting less than expected in April at a monthly 1.8%, while Housing Starts dropped
3.7% MoM, missing consensus. At the moment, the pair is losing 0.53% at 1.1776 and a breakdown of 1.1764 (2018
low May 16) would target 1.1718 (monthly low Dec.12 2017) en route to 1.1553 (monthly low Nov. 7 2017). On the
upside, the next hurdle aligns at 1.1898 (10-day sma) seconded by 1.1996 and finally 1.2021 (200-day sma).
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