SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

GBP/USD hit 1.6216 during European morning trade, the pair’s highest since October 2; the pair subsequently consolidated at 1.6207, rising 0.25%. Cable was likely to find support at 1.6029, Wednesday’s low and resistance at 1.6251, the high of October 2.The dollar weekend broadly after the minutes of the Fed’s September 16-17 policy meeting released on Wednesday showed that a number of officials believe the bank’s current language painted the wrong picture on the timing of rate hikes and that an interest rate rise should be tied to U.S. economic progress. The report also showed that the U.S. central bank cut its growth outlook due to the higher dollar and concerns over global weakness

INTRADAY OUTLOOK

Support:1.6179

Resistance: 1.6243

RECOMMENDATION:

1. Buy GBP/USD Above 1.6245-TG:1.6265/1.6295 SL 1.6215

2. Sell GBP/USD Below 1.6177-TG:1.6157/1.6127 SL 1.6207

INTRADAY OUTLOOK

Immediate Support:107.35

Immediate Resistance: 107.78

RECOMMENDATION:

1. Buy USD/JPY Above 107.80-TG:108.00/108.30 SL 107.50

2. Sell USD/JPY Below 107.33-TG:107.13/106.83 SL 107.63

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