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Iforex Market Insight
EPIC RESEARCH MALAYSIA
INTERNATIONAL CURRENCY BUZZ
 ECONOMIC CALENDAR
GBP/USD & EUR/USD HOURLY CHART
www.epicresearch.myIforex Market Insight By Epic Research Malaysia
Iforex Market Insight
Date– 28 Dec
INTERNATIONAL CURRENCY BUZZ
Forex - US Dollar Grasps on to Fibonacci Support as Yen Strength Remains
Forex - EUR/USD: Back on gradual recovery path towards 1.20 - UOB
Forex- GBP/USD continues to fluctuate in tight range above 1.26
GBP/USD
EUR/USD
“The EUR 2.6 turn bond-buying program has been formally concluded by the end of
2018. To a certain extent, the massive stimulus plan by the European Central Bank’s
(ECB) has kept the EUR/USD pinned within a 1.05 to 1.25 range since its implementa-
tion in early 2015. So, once the ECB’s balance sheet stops expanding in 2019, one of
the key pressure points against the EUR could start to alleviate.” “With policymakers
still largely confident that they would weather the slowdown, discussions by
the ECB about its maiden rate hike would eventually begin in 2019. This is likely to a
key upside catalyst for the EUR especially where pricing for a rate move higher is very
modest now.” “Market consensus has yet to price in any meaningful odds of any rate
hike from the ECB across 2019. But once the ECB starts hiking rates, this will be in
stark contrast to US monetary policy as the FED would have reached the tail end of
its rate hiking process in late 2019.”
The GBP/USD pair is trading in a relatively tight range on Thursday amid a lack of
fresh fundamental drivers and thin holiday trading conditions. As of writing, the pair
was was virtually flat on the day at 1.2635. Earlier today, a report published by
the Institute of Directors (IoD) showed that the business confidence in the UK
slumped to its lowest level in more than a year dragged lower by Brexit uncertainties.
According to Reuters, commenting on the report, "Business leaders are looking
ahead to the new year with trepidation about the economy. While we saw cautious
optimism emerging when the Brexit talks appeared to be moving towards a transi-
tion period after March 2019, that has utterly dissipated now. The prospect of a no-
deal in the near future will be weighing heavily on directors’ minds,” said IoD senior
economist Tej Parikh. On the other hand, the greenback's market valuation continues
to be impacted by the Treasury bond yields and the risk perception.
Iforex Market Insight
Date– 28 Dec
www.epicresearch.myIforex Market Insight By Epic Research Malaysia
Time Cur. Event Forecast Previous
ECONOMIC CALENDAR
Friday, December 28, 2018
Tentative GBP Nationwide HPI (YoY) 1.9%
Tentative GBP Nationwide HPI (MoM) 0.3%
03:00 CHF KOF Leading Indicators (Dec) 98.7 99.1
04:30 GBP Gross Mortgage Approvals 38.9K 39.7K
08:30 USD Goods Trade Balance (Nov) -75.50B -76.98B
09:45 USD Chicago PMI (Dec) 62.0 66.4
10:00 USD New Home Sales (MoM) (Nov) 2.9% -8.9%
10:00 USD Pending Home Sales (MoM) (Nov) 0.7% -2.6%
11:00 USD Crude Oil Inventories -2.869M -0.497M
11:00 USD Cushing Crude Oil Inventories 1.091M
13:00 USD U.S. Baker Hughes Oil Rig Count 883
13:00 USD U.S. Baker Hughes Total Rig Count 1,080
15:30 GBP CFTC GBP speculative net positions -60.7K
15:30 USD CFTC Crude Oil speculative net positions 309.6K
15:30 USD CFTC Gold speculative net positions 76.0K
15:30 USD CFTC S&P 500 speculative net positions 210.3K
15:30 AUD CFTC AUD speculative net positions -35.1K
15:30 JPY CFTC JPY speculative net positions -102.8K
15:30 EUR CFTC EUR speculative net positions -53.1K
top 5 gainers
IFOREX Market Insight
www.epicresearch.myIforex Market Insight By Epic Research Malaysia
BUY GBPUSD ABOVE 1.2670 TGT 1.2690 1.2730 SL 1.2640
SELL GBPUSD BELOW 1.2620 TGT 1.2600 1.2570 SL 1.2650
BUY EURUSD ABOVE 1.1470 TGT 1.1490 1.1520 SL 1.1470
SELL EURUSD BELOW 1.1440 TGT 1.1420 1.1390 SL 1.1470
GBP/USD DAILY CHART
EUR/USD DAILYCHART
Date– 28 Dec
EPIC RESEARCH MALAYSIA
The information and views in this report, our website & all the service we provide are believed to be reliable,
but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to
choose the product/s that suits them the most.
Sincere efforts have been made to present the right investment perspective. The information contained
herein is based on analysis and up on sources that we consider reliable.This material is for personal informa-
tion and based upon it & takes no responsibility
The information given herein should be treated as only factor, while making investment decision. The report
does not provide individually tailor-made investment advice. Epic research recommends that investors inde-
pendently evaluate particular investments and strategies, and encourages investors to seek the advice of a
financial adviser. Epic research shall not be responsible for any transaction conducted based on the informa-
tion given in this report, which is in violation of rules and regulations .
The share price projections shown are not necessarily indicative of future price performance. The informa-
tion herein, together with all estimates and forecasts, can change without notice. Analyst or any person re-
lated to epic research might be holding positions in the stocks recommended. It is understood that anyone
who is browsing through the site has done so at his free will and does not read any views expressed as a rec-
ommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and
reading of the information is the acceptance of this disclaimer.All Rights Reserved. Investment in equity &
bullion market has its own risks.

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Epic Research Malaysia Daily Forex Report 28 Dec 2018

  • 1. Iforex Market Insight EPIC RESEARCH MALAYSIA INTERNATIONAL CURRENCY BUZZ  ECONOMIC CALENDAR GBP/USD & EUR/USD HOURLY CHART
  • 2. www.epicresearch.myIforex Market Insight By Epic Research Malaysia Iforex Market Insight Date– 28 Dec INTERNATIONAL CURRENCY BUZZ Forex - US Dollar Grasps on to Fibonacci Support as Yen Strength Remains Forex - EUR/USD: Back on gradual recovery path towards 1.20 - UOB Forex- GBP/USD continues to fluctuate in tight range above 1.26 GBP/USD EUR/USD “The EUR 2.6 turn bond-buying program has been formally concluded by the end of 2018. To a certain extent, the massive stimulus plan by the European Central Bank’s (ECB) has kept the EUR/USD pinned within a 1.05 to 1.25 range since its implementa- tion in early 2015. So, once the ECB’s balance sheet stops expanding in 2019, one of the key pressure points against the EUR could start to alleviate.” “With policymakers still largely confident that they would weather the slowdown, discussions by the ECB about its maiden rate hike would eventually begin in 2019. This is likely to a key upside catalyst for the EUR especially where pricing for a rate move higher is very modest now.” “Market consensus has yet to price in any meaningful odds of any rate hike from the ECB across 2019. But once the ECB starts hiking rates, this will be in stark contrast to US monetary policy as the FED would have reached the tail end of its rate hiking process in late 2019.” The GBP/USD pair is trading in a relatively tight range on Thursday amid a lack of fresh fundamental drivers and thin holiday trading conditions. As of writing, the pair was was virtually flat on the day at 1.2635. Earlier today, a report published by the Institute of Directors (IoD) showed that the business confidence in the UK slumped to its lowest level in more than a year dragged lower by Brexit uncertainties. According to Reuters, commenting on the report, "Business leaders are looking ahead to the new year with trepidation about the economy. While we saw cautious optimism emerging when the Brexit talks appeared to be moving towards a transi- tion period after March 2019, that has utterly dissipated now. The prospect of a no- deal in the near future will be weighing heavily on directors’ minds,” said IoD senior economist Tej Parikh. On the other hand, the greenback's market valuation continues to be impacted by the Treasury bond yields and the risk perception.
  • 3. Iforex Market Insight Date– 28 Dec www.epicresearch.myIforex Market Insight By Epic Research Malaysia Time Cur. Event Forecast Previous ECONOMIC CALENDAR Friday, December 28, 2018 Tentative GBP Nationwide HPI (YoY) 1.9% Tentative GBP Nationwide HPI (MoM) 0.3% 03:00 CHF KOF Leading Indicators (Dec) 98.7 99.1 04:30 GBP Gross Mortgage Approvals 38.9K 39.7K 08:30 USD Goods Trade Balance (Nov) -75.50B -76.98B 09:45 USD Chicago PMI (Dec) 62.0 66.4 10:00 USD New Home Sales (MoM) (Nov) 2.9% -8.9% 10:00 USD Pending Home Sales (MoM) (Nov) 0.7% -2.6% 11:00 USD Crude Oil Inventories -2.869M -0.497M 11:00 USD Cushing Crude Oil Inventories 1.091M 13:00 USD U.S. Baker Hughes Oil Rig Count 883 13:00 USD U.S. Baker Hughes Total Rig Count 1,080 15:30 GBP CFTC GBP speculative net positions -60.7K 15:30 USD CFTC Crude Oil speculative net positions 309.6K 15:30 USD CFTC Gold speculative net positions 76.0K 15:30 USD CFTC S&P 500 speculative net positions 210.3K 15:30 AUD CFTC AUD speculative net positions -35.1K 15:30 JPY CFTC JPY speculative net positions -102.8K 15:30 EUR CFTC EUR speculative net positions -53.1K
  • 4. top 5 gainers IFOREX Market Insight www.epicresearch.myIforex Market Insight By Epic Research Malaysia BUY GBPUSD ABOVE 1.2670 TGT 1.2690 1.2730 SL 1.2640 SELL GBPUSD BELOW 1.2620 TGT 1.2600 1.2570 SL 1.2650 BUY EURUSD ABOVE 1.1470 TGT 1.1490 1.1520 SL 1.1470 SELL EURUSD BELOW 1.1440 TGT 1.1420 1.1390 SL 1.1470 GBP/USD DAILY CHART EUR/USD DAILYCHART Date– 28 Dec
  • 5. EPIC RESEARCH MALAYSIA The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable.This material is for personal informa- tion and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors inde- pendently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the informa- tion given in this report, which is in violation of rules and regulations . The share price projections shown are not necessarily indicative of future price performance. The informa- tion herein, together with all estimates and forecasts, can change without notice. Analyst or any person re- lated to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a rec- ommendation for which either the site or its owners or anyone can be held responsible for . Any surfing and reading of the information is the acceptance of this disclaimer.All Rights Reserved. Investment in equity & bullion market has its own risks.