SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

GBP/USD hit 1.5522 during European morning trade, the pair’s highest since February 26; the pair subsequently consolidated at 1.5470, jumping 1.48%. The pound rallied over 1% to two and-a-half month highs against the U.S. dollar on Friday, boosted by the U.K. general election results and as markets shrugged off the release of mixed U.K. economic reports. Cable was likely to find support at 1.5300, the low of April 30 and resistance at 1.5552, the high of February 26.Earlier Friday, industry data showed that U.K. house prices rose 1.6% last month, exceeding expectations for a 0.4% gain. March’s figure was revised to an increase of 0.6% from a previously estimated 0.4% rise.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.5475 TARGET 1.5495 1.5525 SL 1.5445

SELL GBPUSD BELOW 1.5345 TARGET 1.5325 1.5295 SL 1.5375

RECOMMENDATION:

BUY EURUSD ABOVE 1.1175 TARGET 1.1155 1.1125 SL 1.1205

SELL EURUSD BELOW 1.1115 TARGET 1.1095 1.1065 SL 1.1145

 

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