SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD was up 0.18% to 1.2871, off session lows of 1.2816. The pair was likely to find support at 1.2815, Monday’s low and a 14 month trough and resistance at around 1.29. The euro rose to session highs against the dollar on Tuesday after data showed that output in the euro zone private sector grew at the slowest rate so far this year in September, adding to fears over the outlook for the recovery in the region..The bloc’s services PMI slid to a three month low of 52.8 from 53.1 last month, while the manufacturing index ticked down to a 14 month low of 50.5 from 50.7 in August.The data indicated that the euro area economy is on track to grow by 0.3% in the third quarter, and also signaled that growth could slow further in the fourth quarter

INTRADAY OUTLOOK

Support: 1.2889

Resistance: 1.2906

RECOMMENDATION:

1. Buy EUR/USD Above 1.2908-TG:1.2928/1.2958 SL 1.2878

2. Sell EUR/USD Below 1.2886-TG:1.2866/1.2836 SL 1.2916

INTRADAY OUTLOOK

Immediate Support:1.6390

Immediate Resistance:1.6424

RECOMMENDATION:

1. Buy GBP/USD Above 1.6428-TG:1.6448/1.6478 SL 1.6398

2. Sell GBP/USD Below 1.6387-TG:1.6367/1.6337 SL 1.6417 

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