SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

GBP/USD hit 1.4834 during European morning trade, the pair’s lowest since April 3; the pair subsequently consolidated at 1.4838, shedding 0.28%.The pound erased gains against the U.S. dollar on Tuesday, even after data showed that U.K. service sector activity expanded at the fast- est rate in seven months in March as the greenback recovered from Friday’s downbeat U.S. employment data. Cable was likely to find support at 1.4773, the low of April 2 and resistance at 1.4982, Monday’s high.In a report,a market research group said its services purchasing managers index increased to 58.9 last month from a reading of 56.7 in February. Analysts had expected the index to rise to 57.0 in March.

RECOMMENDATION:

BUY GBP/USD ABOVE 1.4950 TARGET 1.5010 1.5060 SL 1.4870

BUY EUR/USD ABOVE 1.0950 TARGET 1.1010 1.1060 SL 1.0870

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