SGX IForex Recommendations : Epic Research Singapore

TRADING TIPS :

EUR/USD is currently trading with a bullish bias. During the previous trading day on 15th July 2016, Euro reversed from the resistance level 1.1165, headed short and even hit the key support level 1.1034. We are waiting for a clear breakout below 1.1034 to continue to the lower side. However, as long as the pair trades above 1.1049, expect a possible bullish bias towards 1.1120 or even higher to 1.1165. This pair should be traded alongside GBP/CHF, GBP/JPY, USD/JPY, EUR/CHF, and AUD/USD. These pairs have a strong positive correlation of up to +0.96 and will have a similar price action during this intraday.

RECOMMENDATION:

BUY GBPUSD ABOVE 1.3342 TGT 1.3362 1.3392 SL 1.3312

SELL GBPUSD BELOW 1.3108 TGT 1.3088 1.3058 SL 1.3138

RECOMMENDATION:

BUY EURUSD ABOVE 1.1073 TGT 1.1093 1.1123 SL 1.1043

SELL EURUSD BELOW 1.1036 TGT 1.1.1016 1.0986 SL 1.1066

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