Daily I-Forex report 31-August-2018 by Epic research

31-Aug-2018 International Forex

For More Information Please visit www.epicresearch.co or contact info@epicresearch.co Please refer to disclaimer at the end of the report.

International Forex INTERNATIONAL CURRENCY BUZZ Forex - Dollar Hits Day’s Highs, Turkish Lira, Argentina’s Peso Skid Forex - EUR/USD within a tight range near 1.17 post-US data Forex - GBP futures: rally could have further to go GBP/USD The GBP/USD is struggling to hold onto 1.3000 after it reached a peak of 1.3042. Cable shot higher on Wednesday after Chief EU Negotiator Michel Barnier said the EU is ready to offer the UK a "deal, unlike any other country." The optimism came after long weeks of concerns about a no-deal Brexit. However, the optimism is slightly fading.

Barnier said that Brexit without an accord is one of the options. German Finance Minister Olaf Scholz also tried to manage expectations. All in all, there are good reasons to fade the rally. Another factor that weighs on the pair is growing concern over emerging markets. The Turkish Lira is tumbling down once again, and Argentina is in crisis mode. The South American nation asked the International Monetary Fund to accelerate the bailout, exacerbating the situation. In the US, GDP was upgraded to 4.2%, above expectations, while Pending Home Sales disappointed.

The Fed's preferred inflation measure, Core PCE is due later in the day.

EUR/USD Spot remains parked around the 1.1700 area on Thursday. The greenback struggles to gather extra upside traction.

US Core PCE, Personal Spending matched expectations in July. The demand for the single currency remains somewhat subdued in the second half of the week, with EUR/USD looking to stabilize around 1.1700 the figure. The pair keeps the red figures so far today, reverting a 4-day positive streak, as some fresh demand appeared supporting the buck, all in response to renewed and heightened concerns in the EM FX space as well as on the US-China trade front. In the data space, unconvincing advanced German inflation figures for the month of August have undermined the upside impetus. Across the pond, July’s US Core PCE rose at a monthly 0.2% and 2.0% on a yearly basis, both prints coming in in line with forecasts. Further US data saw Personal Income expanding 0.3% MoM in July while Personal Spending rose 0.4% MoM, both readings matching consensus.

International Forex DAILY ECONOMIC DATA

International Forex EPIC'S ANALYST SPEAKS

GBP/USD Daily Chart

INTRADAY OUTLOOK Support: 1.2781 Resistance: 1.2157 RECOMMENDATION: BUY GBPUSD ABOVE 1.3020 TGT 1.3040 1.3070 SL 1.2990 SELL GBPUSD BELOW 1.2960 TGT 1.2940 1.2910 SL 1.2990

International Forex EPIC'S ANALYST SPEAKS

EUR/USD Daily Chart

INTRADAY OUTLOOK Support: 1.1631 Resistance: 1.1751

RECOMMENDATION: BUY EURUSD ABOVE 1.1620 TGT 1.1640 1.1670 SL 1.1590 SELL EURUSD BELOW 1.1670 TGT 1.1650 1.1620 SL 1.1700

International Forex For India: Info@epicresearch.co Address: 411 Milinda Manor (Suites 409-425) 2 RNT Marg. Opp Central Mall Indore (M.P.) +91 -731- 6642300 For United States- HNI& NRI Sales Contact: 2117 Arbor Vista Dr. Charlotte (NC)-Cell: +1 704 249 23 For Australia- HNI & NRI Sales Contact: Mintara Road, Tarneit, Victoria, Post Code 3029 Cell: +61 422 063855

Singapore- www.epicresearch.sg Contact +65-3158-1402 Malaysia- www.epicresearch.my Contact +60-3502-19047

Epic Research is one of India’s largest Financial Advisory house. Epic Research is amongst leading and most valuable financial advisory provider companies in the private sector.

DISCLAIMER 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 information 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 independently 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 information given in this report. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related 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 ex-pressed as a recommendation for which either the site or its owners or anyone can be held responsible. Any surfing and reading of the information is the acceptance of this disclaimer. Investment in equity, futures, Forex and commodity market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. We are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.