24-Aug-2018 International Forex
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International Forex INTERNATIONAL CURRENCY BUZZ Forex - Dollar Higher amid Trump Legal Woes, Trade Concerns Forex - GBP/USD recovers early lost ground, but lacks follow-through beyond 1.29 handle Forex - EUR/USD – Euro rally stalls on soft manufacturing PMIs GBP/USD A modest USD pull-back helps rebound over 50-pips from lows. UK government paper on no-deal does little to influence the move. The GBP/USD pair quickly recovered around 50-pips from session lows albeit struggled to build on the momentum beyond the 1.2900 handle. The pair managed to reverse the last hour dip to an intraday low level of 1.2849 and the latest leg of quickly upsurge was solely led by a modest US Dollarpull-back from highs. With trade and political worries still in focus, the USD held on to its daily gains, albeit struggled to build on the positive momentum and was seen as one of the key factors lending some support to the major. In the latest Brexit-related news, the UK government published the first batch of technical notices advising businesses and the public on how to prepare for the possibility of a no-deal Brexit. EUR/USD The pair remains on the defensive today in the mid-1.1500s. The bid tone around the buck remains well and sound near 95.50. Flash PMIs in core Euroland came in mixed for the current month. The selling bias around the European currency remains well and sound on Thursday, with EUR/USDnavigating the mid-1.1500s in the wake of advanced PMIs. Spot remains under some selling pressure in the second half of the week, giving away part of the recent advance to levels beyond 1.1600 the figure and refocusing instead on the 1.1550 area and below. EUR has also derived some offers after flash PMIs in core Euroland came in on a mixed tone for the month of August. In fact, flash manufacturing PMI in Germany and the euro zone missed estimates at 56.1 and 54.6, respectively, while France’s manufacturing PMI is expected above expectations at 53.7. In the meantime, the buying interest around the greenback has resurfaced today on trade jitters and despite the recent headlines from the US political scenario involving President Trump.
International Forex DAILY ECONOMIC DATA
International Forex EPIC'S ANALYST SPEAKS
GBP/USD Daily Chart
INTRADAY OUTLOOK Support: 1.2836 Resistance: 1.2976 RECOMMENDATION: BUY GBPUSD ABOVE 1.2890 TGT 1.2920 1.2950 SL 1.2860 SELL GBPUSD BELOW 1.2790 TGT 1.2770 1.2740 SL 1.2820
International Forex EPIC'S ANALYST SPEAKS
EUR/USD Daily Chart
INTRADAY OUTLOOK Support: 1.1518 Resistance: 1.1664
RECOMMENDATION: BUY EURUSD ABOVE 1.1630 TGT 1.1650 1.1680 SL 1.1600 SELL EURUSD BELOW 1.1560 TGT 1.1540 1.1510 SL 1.1590
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