Thursday, December 18, 2014

SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :
EUR/USD was up 0.51% to 117.01 after falling to one-month lows of 115.55 overnight.The dollar received a boost after data earlier showed that Japan’s exports grew by a smaller-than-forecast 4.9% in November, despite the steep fall in the yen, as slower demand in Asia and Europe weighed.Investors remained wary ahead of the Fed’s policy statement, as ongoing speculation over the prospects for a U.S. rate hike next year have fuelled expectations that the bank may change its forward guidance, and drop the pledge to keep interest rates near zero for a “considerable time.The traditional safe haven yen rallied on Tuesday as a rout in oil prices continued, adding to fears over the global economic outlook and the impact of oil’s drop on weakening emerging market economies and their currencies.



INTRADAY OUTLOOK
Support: 1.2436
Resistance: 1.2499

RECOMMENDATION:
1. Buy EUR/USD Above 1.2501-TG:1.2521/1.2551 SL 1.2471
2. Sell EUR/USD Below 1.2434-TG:1.2414/1.2384 SL 1.2474

INTRADAY OUTLOOK
Immediate Support: 1.5678
Immediate Resistance: 1.5749

RECOMMENDATION:
1. Buy GBP/USD Above 1.5751-TG:1.5771/1.5801 SL 1.5721

2. Sell GBP/USD Below 1.5675-TG:1.5655/1.5625 SL 1.5705

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