SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

GBP/USD touched session lows of 1.5088 immediately following the release of the data, before pulling back to 1.5118. The pound dipped to session lows on Tuesday after data showed that growth in the U.K. construction sector lost momentum in April as uncertainty ahead of the upcoming general elections on Thursday weighed. A research firm said the construction purchasing managers’ index fell to 54.2 from 57.8 in March. Economists had expected a more modest slowdown to 57.5. It was the slowest rate of expansion in 22 months. A reading below 50.0 indicates activity is declining, while a reading above that level implies it is increasing.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.5220 TARGET 1.5240 1.5270 SL 1.5190

SELL GBPUSD BELOW 1.5160 TARGET 1.5140 1.5110 SL 1.5190

RECOMMENDATION:

BUY EURUSD ABOVE 1.1250 TARGET 1.1270 1.1300 SL 1.1220

SELL EURUSD BELOW 1.1170 TARGET 1.1150 1.1120 SL 1.1200

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