Iforex Market Insight

INTERNATIONAL CURRENCY

BUZZ

ECONOMIC CALENDAR

GBP/USD HOURLY CHART

EUR/USD HOURLY CHART

EPIC RESEARCH SINGAPORE

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-

Iforex Market Insight

Date – 19– Apr

INTERNATIONAL CURRENCY BUZZ

EUR/USD

GBP/USD GBP/USD is currently trading with a bullish bias. During the previous trading day on 15th

April 2016, The Cable broke above a key resistance level 1.4179 and is currently headed

long. Following this break out, we expect minor downward retracements towards 1.4202

to go long with our target at 1.4290. A clear breakout above this level will push the price

further to the upper side with our next target at 1.4406. However, if the anticipated pull-

back goes below 1.4168, then we will go short with our target at 1.4063. This pair should

be traded alongside AUD/USD, GBP/CHF and GBP/JPY. These pairs have a strong positive

correlation of up to +0.89 and will likely move in a similar direction direction during this

intaday.

EUR/USD is flat on Monday, continuing the lack of movement which has marked the pair

since late last week. With no major releases out of the Eurozone or the US, it could remain

an uneventful day for the pair. In the European session, EUR/USD is trading at the 1.13

line. On the release front, the sole Eurozone event is the German central bank’s monthly

report. The US will release the NAHB Housing Market Index, with little change expected. As

well, New York Fed president William Dudley will deliver remarks at a meeting in New York.

Tuesday will be busier, with Germany and the Eurozone releasing the ZEW Economic Senti-

ment reports. In the US, there is one key event, Building Permits

Forex - Yen rises to near 18-month highs against dollar

Forex - Aussie and kiwi move lower on oil drop

Forex- Doha meeting drives down commodity currencies

Iforex Market Insight Date - 19– Apr

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singapore

ECONOMIC CALENDAR

Time Cur. Event Forecast Previous

Tuesday, April 19, 2016

All Day Holiday India - Mahavir Jayanti

04:30 USD FOMC Member Rosengren Speaks - -

14:30 EUR ZEW Economic Sentiment 8.8 10.6

18:00 USD Building Permits (Mar) 1.200M 1.177M

18:00 USD Building Permits (MoM) (Mar) - -2.2%

18:00 USD Housing Starts (MoM) (Mar) - 5.2%

18:00 USD Housing Starts (Mar) 1.170M 1.178M

19:00 AUD RBA Governor Stevens Speaks - -

20:00 GBP BoE Gov Carney Speaks - -

Iforex Market Insight

www.epicresearch.sg Iforex Market Insight Report By Epic Research Singa-

EUR/USD HOURLY CHART

BUY GBP USD ABOVE 1.4204 TARGET 1.4224 1.4254 SL 1.4174

SELL GBP USD BELOW 1.4160 TARGET 1.4140 1.4110 SL 1.4190

GBP/USD HOURLY CHART

BUY EUR USD ABOVE 1.1318 TARGET 1.1338 1.1368 SL 1.1288

SELL EUR USD BELOW 1.1290 TARGET 1.1270 1.1240 SL 1.1320

Date - 19- Apr

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